Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Regulator may enter into a carbon abatement contract under section 20B as the result of a carbon abatement purchasing process conducted by the Regulator under section 20G.
(2) The Regulator must not enter into a carbon abatement contract under section 20B unless the carbon abatement contractor for the contract is a project proponent for an eligible offsets project.
Note: For declarations of eligible offsets projects, see section 27. The requirements for such a declaration include that the project proponent for the project passes the fit and proper person test.
(3) The Regulator must not enter into a carbon abatement contract under section 20B (otherwise than by way of novation) if any of the eligible carbon credit units to be purchased under the contract:
(a) were issued; or
(b) at the time of purchase, would have been issued;
in respect of an eligible offsets project of a kind specified in the legislative rules.