Commonwealth Consolidated Acts

CARBON CREDITS (CARBON FARMING INITIATIVE) ACT 2011 - SECT 144

Scope

  (1)   This section applies if:

  (a)   there are 2 or more project proponents (the multiple project proponents ) for an eligible offsets project; and

  (b)   the multiple project proponents have nominated a nominee under subsection   136(2) in relation to the project; and

  (c)   a nominee account for the project is kept in the name of the nominee; and

  (d)   the nomination ceases to be in force; and

  (e)   a new nomination of a nominee (the new nominee ) is made under subsection   136(2).

Updating account details

  (2)   As soon as practicable after receiving the new nomination, the Regulator must make the necessary alterations in the Registry to substitute the name of the new nominee for the name of the old nominee.