Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies to a person if:
(a) the person is a project proponent for an eligible offsets project; and
(b) in a case where the person is an individual:
(i) an event set out in legislative rules made for the purposes of subparagraph 60(1)(a)(i) happens in relation to the individual; or
(ii) the individual becomes an insolvent under administration; and
(c) in a case where the person is a body corporate:
(i) an event set out in legislative rules made for the purposes of subparagraph 60(2)(a)(i) happens in relation to the body corporate; or
(ii) the body corporate becomes a Chapter 5 body corporate; or
(iii) an event set out in legislative rules made for the purposes of subparagraph 60(2)(a)(ii) happens in relation to an executive officer of the body corporate.
For the purposes of subparagraphs (b)(i) and (c)(i) and (iii), disregard an event that consists of a breach of a climate change law (within the meaning of the Clean Energy Regulator Act 2011 ).
Notification
(2) The person must, within 90 days after the event, notify the Regulator, in writing, of the event.
Ancillary contraventions
(3) A person must not:
(a) aid, abet, counsel or procure a contravention of subsection (2); or
(b) induce, whether by threats or promises or otherwise, a contravention of subsection (2); or
(c) be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (2); or
(d) conspire with others to effect a contravention of subsection (2).
(4) Subsections (2) and (3) are civil penalty provisions .
Note: Part 21 provides for pecuniary penalties for breaches of civil penalty provisions.