Commonwealth Consolidated Acts

CARBON CREDITS (CARBON FARMING INITIATIVE) ACT 2011 - SECT 156

Scope

  (1)   This section applies if:

  (a)   a person keeps a Registry account (the first Registry account ) in which there is an entry for an Australian carbon credit unit; and

  (b)   the person, by electronic notice transmitted to the Regulator, instructs the Regulator to transfer the unit from the first Registry account to another Registry account kept by the person; and

  (c)   the instruction sets out:

  (i)   the account number of the first Registry account; and

  (ii)   the account number of the other Registry account.

Compliance with instruction

  (2)   If a person gives the Regulator an instruction under paragraph   (1)(b), the Regulator must comply with the instruction as soon as practicable after receiving it.

  (3)   The Registry must set out a record of the instruction under paragraph   (1)(b).