Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister must not allocate a reserve HFC quota unless satisfied that circumstances prescribed by the regulations for the purposes of this subsection exist.
(2) The regulations may provide in relation to any of the following:
(a) processes for applying for reserve HFC quotas, including who may apply;
(b) processes for the Minister to:
(i) allocate reserve HFC quotas; or
(ii) vary the size or period of reserve HFC quotas; or
(iii) stop allocated reserve HFC quotas being in force; or
(iv) cancel allocated reserve HFC quotas, with the effect that the quotas are taken never to have been in force;
(c) processes for transferring reserve HFC quotas between SGG licensees;
(d) the size of reserve HFC quotas, or the method for working out the size of reserve HFC quotas;
(e) the period (not longer than 12 months) during which each reserve HFC quota is in force;
(f) review of decisions made under regulations made for the purposes of this subsection.
(3) The reserve HFC quota limit for a calendar year is the quantity of HFCs, expressed in CO 2 e megatonnes:
(a) prescribed by the regulations in relation to the year for the purposes of this subsection; or
(b) worked out in accordance with a method prescribed by the regulations in relation to the year for the purposes of this subsection.
(4) The sum of the amounts of all reserve HFC quotas allocated for a calendar year (including any part of that year) must not be more than the reserve HFC quota limit for that year.
(5) Regulations made for the purposes of subsection (3) must be consistent with Australia's international obligations.