Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies if there are 2 or more registered holders of a cross - boundary greenhouse gas title.
Nomination
(2) Those registered holders may, by joint written notice given to the Titles Administrator, nominate one of them as being the person who is authorised to take eligible voluntary actions on behalf of the registered holders.
Note: For eligible voluntary action , see section 775A.
(3) The joint written notice must be executed in an approved manner by or on behalf of each of the registered holders.
(3A) The Titles Administrator must publish on the Titles Administrator's website a copy of the instrument of approval referred to in subsection (3).
Eligible voluntary action to be taken by nominee
(4) If:
(a) the registered holders of a cross - boundary greenhouse gas title have nominated a person under subsection (2); and
(b) the nomination is in force; and
(c) the nominated person takes an eligible voluntary action; and
(d) the eligible voluntary action is expressed to be taken on behalf of the registered holders;
this Act has effect as if the eligible voluntary action were taken by the registered holders jointly.
(5) The registered holders are not entitled to take an eligible voluntary action except:
(a) in accordance with subsection (4); or
(b) by taking the action jointly.
Revocation of nomination
(6) If:
(a) a person has been nominated under subsection (2) in relation to a cross - boundary greenhouse gas title; and
(b) one of the registered holders of the cross - boundary greenhouse gas title, by written notice given to the Titles Administrator, revokes the nomination;
the nomination ceases to be in force.
(7) If a registered holder of a cross - boundary greenhouse gas title revokes a nomination under subsection (6), that registered holder must give written notice of the revocation to each of the other registered holders as soon as practicable after the revocation.
Cessation of nomination--nominee ceases to be a registered holder
(8) If:
(a) a person has been nominated under subsection (2) in relation to a cross - boundary greenhouse gas title; and
(b) the nominated person ceases to be one of the registered holders of the cross - boundary greenhouse gas title;
the nomination ceases to be in force.
Effect of cessation in force of nomination
(9) If the nomination of a registered holder of a cross - boundary greenhouse gas title ceases to be in force under subsection (6) or (8), the cessation in force of the nomination does not affect the validity of an eligible voluntary action taken by the registered holder (or former registered holder) before the nomination ceases to be in force.
(10) In this section:
"cross-boundary greenhouse gas title" means:
(a) a cross - boundary greenhouse gas assessment permit; or
(b) a cross - boundary greenhouse gas holding lease; or
(c) a cross - boundary greenhouse gas injection licence.