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CARBON CREDITS (CARBON FARMING INITIATIVE) ACT 2011 - SECT 168

Entries in the Register

  (1)   The Emissions Reduction Fund Register must set out, for each eligible offsets project:

  (a)   the name of the project; and

  (b)   if the project is an area - based offsets project--the following:

  (i)   the project area or project areas;

  (ii)   the carbon estimation area, or carbon estimation areas, for the project; and

  (c)   a description of the project; and

  (d)   whether the project is a joint implementation project; and

  (e)   the location of the project; and

  (f)   the project proponent for the project; and

  (g)   the name of the applicable methodology determination; and

  (h)   whether the relevant declaration under section   27 is subject to a condition that all relevant regulatory approvals must be obtained before the end of the first reporting period for the project; and

  (ha)   whether the relevant declaration under section   27 is subject to a condition mentioned in subsection   28A(2); and

  (i)   if the project is a sequestration offsets project:

  (i)   whether the project is a 100 - year permanence period project or a 25 - year permanence period project; and

  (ii)   when the permanence period for the project will end; and

  (ja)   if:

  (i)   the project is an area - based offsets project; and

  (ii)   the project area, or any of the project areas, is covered by a regional natural resource management plan;

    whether the project is consistent with the plan; and

  (k)   if any Australian carbon credit units have been issued in relation to the project in accordance with Part   2:

  (i)   the total number of units so issued; and

  (ii)   the financial year, or each of the financial years, in which those units were so issued; and

  (iii)   the name of the person, or each of the persons, to whom those units have been issued; and

  (m)   if any Australian carbon credit units have been relinquished in order to comply with a requirement under Part   7 in relation to the project--the total number of units so relinquished; and

  (n)   if the project is a sequestration offsets project, and the project area or project areas are to any extent subject to a carbon maintenance obligation:

  (i)   a statement to the effect that the project area or project areas are, to a specified extent, subject to a carbon maintenance obligation; and

  (ii)   the net total number of Australian carbon credit units issued in relation to the project in accordance with Part   2; and

  (o)   if:

  (i)   the project proponent for the project has requested the Regulator that particular information about the environmental benefits, or community benefits, of the project be set out in the Emissions Reduction Fund Register; and

  (ii)   the request has not been withdrawn; and

  (iii)   the requested information meets the requirements specified in the regulations or the legislative rules;

    the requested information; and

  (p)   if the project is a joint implementation project--such other information relating to the project as is specified in the regulations or the legislative rules; and

  (q)   such other information (if any) relating to the project as the Regulator considers appropriate.

  (2A)   For the purposes of subparagraph   (1)(i)(ii), the permanence period for a project ends at the last time when a notice could be given under subsection   89(2) in relation to the project if it were assumed that the requirements of paragraphs 89(1)(b) and (c) had been met.

  (3)   If one or more areas of land that were formerly a project area or project areas of an eligible offsets project are to any extent subject to a carbon maintenance obligation, the Emissions Reduction Fund Register must:

  (a)   set out a statement to the effect that the area or areas are, to a specified extent, subject to a carbon maintenance obligation; and

  (b)   identify the area or areas of land; and

  (c)   set out the net total number of Australian carbon credit units issued in relation to the project in accordance with Part   2.

  (4)   Regulations or legislative rules made for the purposes of paragraph   (1)(p) must be consistent with the Kyoto rules.

Carbon abatement contracts

  (5)   The Emissions Reduction Fund Register must set out, for each carbon abatement contract that has been entered into:

  (a)   the name of the carbon abatement contractor; and

  (b)   the duration of the contract; and

  (c)   the name of the eligible offsets project for which the carbon abatement contractor is a project proponent; and

  (d)   the number of eligible carbon credit units that the carbon abatement contractor has contracted to sell to the Commonwealth under the contract; and

  (e)   the number of eligible carbon credit units that the carbon abatement contractor has sold to the Commonwealth under the contract.

 



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