Commonwealth Consolidated Acts

AUSTRALIAN NATIONAL REGISTRY OF EMISSIONS UNITS ACT 2011 - SECT 48C

    For the purposes of this Act, if there is an entry for a safeguard mechanism credit unit in a Registry account (the first Registry account ) kept by a person (the first person ):

  (a)   a transfer of the unit from the first Registry account to a Registry account kept by another person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the Registry account kept by the other person; and

  (b)   a transfer of the unit from the first Registry account to another Registry account kept by the first person consists of:

  (i)   the removal of the entry for the unit from the first Registry account; and

  (ii)   the making of an entry for the unit in the other Registry account kept by the first person.