Commonwealth Consolidated Acts

AUSTRALIAN NATIONAL REGISTRY OF EMISSIONS UNITS ACT 2011 - SECT 36

  (1)   If:

  (a)   there is in force a declaration under section   37 that Australia is in compliance with the emissions trading eligibility requirements under the Kyoto rules; and

  (b)   the Regulator receives an instruction, in accordance with the relevant provisions of the Kyoto rules, for the transfer of a Kyoto unit from a foreign account; and

  (c)   the Kyoto unit is not specified in the regulations as a unit that cannot be transferred to a Registry account; and

  (d)   making an entry for the Kyoto unit in the relevant Registry account would not breach regulations made for the purposes of section   39 (Kyoto rules); and

  (e)   making an entry for the Kyoto unit in the relevant Registry account would not breach regulations made for the purposes of section   44 (Commonwealth Registry accounts);

the Regulator must make an entry for the Kyoto unit in the relevant Registry account.

Note:   For specification by class, see subsection   13(3) of the Legislation Act 2003 .

  (2)   However, the Regulator may refuse to make an entry for the Kyoto unit in the relevant Registry account if the Regulator has reasonable grounds to suspect that the instruction is fraudulent.