Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe following is a simplified outline of this Part:
• If a person is the registered holder of one or more Australian carbon credit units, the person may, by electronic notice transmitted to the Regulator, relinquish any or all of those units.
• An administrative penalty is payable for non - compliance with a relinquishment requirement under this Act.
Note 1: A person may voluntarily relinquish Australian carbon credit units in order to satisfy a condition for revocation of a section 27 declaration in relation to an offsets project.
Note 2: A person may be required to relinquish Australian carbon credit units under Part 7.