Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies if:
(a) a number of Australian carbon credit units have been issued to a person in relation to an eligible offsets project; and
(b) information was given by the person to the Regulator in connection with the project; and
(c) the information was:
(i) contained in an application under this Act, the regulations or the legislative rules; or
(ii) given in connection with an application under this Act, the regulations or the legislative rules; or
(iii) contained in an offsets report; or
(iv) contained in a notification under Part 6; and
(d) the information was false or misleading in a material particular; and
(e) the issue of any or all of the units was directly or indirectly attributable to the false or misleading information.
(2) The Regulator may, by written notice given to the person, require the person to relinquish a specified number of Australian carbon credit units.
(3) The specified number must not exceed the number of Australian carbon credit units the issue of which was directly or indirectly attributable to the false or misleading information.
(6) The person must comply with the requirement within 90 days after the notice was given.
Note: An administrative penalty is payable under section 179 for non - compliance with a relinquishment requirement.