CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) BILL 2014

2013-2014

The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

Clean Energy Legislation (Carbon Tax

Repeal) Bill 2014

No. , 2014

(Environment)

A Bill for an Act to repeal the Clean Energy Act

2011, and for other purposes

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Contents

Short title ........................................................................................... 1

Commencement ................................................................................. 1

Schedule(s) ........................................................................................ 3

Schedule 1--Repeal of the carbon tax

Part 1--Repeal of Acts

Clean Energy Act 2011

Clean Energy (Charges--Customs) Act 2011

Clean Energy (Charges--Excise) Act 2011

Clean Energy (Unit Issue Charge--Auctions) Act 2011

Clean Energy (Unit Issue Charge--Fixed Charge) Act 2011

Clean Energy (Unit Shortfall Charge--General) Act 2011

Part 2--Amendments

A New Tax System (Goods and Services Tax) Act 1999

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

Australian National Registry of Emissions Units Act 2011

Australian Securities and Investments Commission Act 2001

Clean Energy Regulator Act 2011

Corporations Act 2001

Fuel Tax Act 2006

Fuel Tax (Consequential and Transitional Provisions) Act 2006

Income Tax Assessment Act 1997

National Greenhouse and Energy Reporting Act 2007

Ozone Protection and Synthetic Greenhouse Gas Management Act

1989

Petroleum Resource Rent Tax Assessment Act 1987

Taxation Administration Act 1953

Part 3--Application and transitional provisions

Division 1--Preliminary

Division 2--Provisions relating to the Clean Energy Act 2011 and

associated charge Acts

Division 3--Provisions relating to other Acts

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Division 4--Miscellaneous

Division 5--Transitional provisions commencing on Royal Assent

Part 4--Jobs and Competitiveness Program

Division 1--Preliminary

Division 2--Reporting requirements

Division 3--Issue of additional free carbon units

Division 4--True-up shortfalls

Division 5--Collection of levy

Division 6--Miscellaneous

Schedule 2--Price exploitation in relation to the carbon tax

repeal

Competition and Consumer Act 2010

Schedule 3--Repeal of tax offset for conservation tillage

Clean Energy (Consequential Amendments) Act 2011

Income Tax Assessment Act 1997

Schedule 4--Repeal of the Steel Transformation Plan Act 2011

Steel Transformation Plan Act 2011

Schedule 5--Australian Renewable Energy Agency's finances

Australian Renewable Energy Agency Act 2011

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

A Bill for an Act to repeal the Clean Energy Act

2011, and for other purposes

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Clean Energy Legislation (Carbon

Tax Repeal) Act 2014.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table

commences, or is taken to have commenced, in accordance with

column 2 of the table. Any other statement in column 2 has effect

according to its terms.

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1. Sections 1 to 3

and anything in

this Act not

elsewhere covered

by this table

The day this Act receives the Royal Assent.

2. Schedule 1,

Parts 1 and 2

1 July 2014.

1 July 2014

3. Schedule 1,

Part 3,

Divisions 1 to 4

1 July 2014.

1 July 2014

4. Schedule 1,

Part 3, Division 5

The day this Act receives the Royal Assent.

5. Schedule 1,

Part 4

The day after this Act receives the Royal

Assent.

However, if this Act receives the Royal

Assent before 30 June 2014, the provision(s)

commence on 1 July 2014.

6. Schedule 2

The later of:

(a) the day after this Act receives the Royal

Assent; and

(b) 1 January 2014.

7. Schedule 3

The day after this Act receives the Royal

Assent.

8. Schedule 4

1 July 2014.

1 July 2014

9. Schedule 5

The day this Act receives the Royal Assent.

Note:

This table relates only to the provisions of this Act as originally

enacted. It will not be amended to deal with any later amendments of

this Act.

(2) Any information in column 3 of the table is not part of this Act.

Information may be inserted in this column, or information in it

may be edited, in any published version of this Act.

Schedule 1 Repeal of the carbon tax

Part 1 Repeal of Acts

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Schedule 1

--Repeal of the carbon tax

Part 1

--Repeal of Acts

Clean Energy Act 2011

1 The whole of the Act

Repeal the Act.

Clean Energy (Charges--Customs) Act 2011

2 The whole of the Act

Repeal the Act.

Clean Energy (Charges--Excise) Act 2011

3 The whole of the Act

Repeal the Act.

Clean Energy (Unit Issue Charge--Auctions) Act 2011

4 The whole of the Act

Repeal the Act.

Clean Energy (Unit Issue Charge--Fixed Charge) Act 2011

5 The whole of the Act

Repeal the Act.

Clean Energy (Unit Shortfall Charge--General) Act 2011

6 The whole of the Act

Repeal the Act.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Part 2

--Amendments

A New Tax System (Goods and Services Tax) Act 1999

7 Section 195-1

Insert:

eligible Australian carbon credit unit means:

(a) a Kyoto Australian carbon credit unit (within the meaning of

the Carbon Credits (Carbon Farming Initiative) Act 2011);

(b) a non-Kyoto Australian carbon credit unit (within the

meaning of that Act) issued in relation to an eligible offsets

project (within the meaning of that Act) for a reporting

period (within the meaning of that Act), where:

(i) if it were assumed that the reporting period had ended

before the Kyoto abatement deadline (within the

meaning of that Act), a Kyoto Australian carbon credit

unit would have been issued in relation to the project for

the reporting period instead of the non-Kyoto Australian

carbon credit unit; and

(ii) the non-Kyoto Australian carbon credit unit is not of a

kind specified in the regulations; or

Act) of a kind specified in the regulations.

Subparagraph (b)(ii) and paragraph (c) do not, by implication, limit

the application of subsection 13(3) of the Legislative Instruments

Act 2003 to other instruments under this Act.

8 Section 195-1 (definition of eligible emissions unit)

Repeal the definition, substitute:

eligible emissions unit means:

(a) an

eligible international emissions unit; or

(b) an

eligible Australian carbon credit unit.

9 Section 195-1

Insert:

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

eligible international emissions unit has the same meaning as in

the Australian National Registry of Emissions Units Act 2011.

Anti-Money Laundering and Counter-Terrorism Financing

Act 2006

10 Section 5 (definition of carbon unit)

Repeal the definition.

11 Subsection 6(2) (paragraph (baa) of the cell at table

item

33, column headed "Provision of a designated

service")

Repeal the paragraph.

12 Subsection 6(2) (paragraph (d) of the cell at table item 33,

column headed "Provision of a designated service")

Omit "carbon units,".

Australian National Registry of Emissions Units Act 2011

13 Section 3

Omit:

•

Entries may be made in Registry accounts for:

(a)

carbon units; and

(b)

Australian carbon credit units; and

(c)

Kyoto units; and

(d)

prescribed international units.

•

This Act sets out rules about dealings with:

(a)

Kyoto units; and

(b)

prescribed international units.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

substitute:

•

Entries may be made in Registry accounts for:

(a)

Australian carbon credit units; and

(b)

Kyoto units.

•

This Act sets out rules about dealings with Kyoto units.

14 Section 4 (definition of Australian-issued international

unit)

Repeal the definition.

15 Section 4 (definition of benchmark average auction

charge)

Repeal the definition.

16 Section 4 (definition of carbon unit)

Repeal the definition.

17 Section 4 (definition of Commonwealth foreign registry

account)

Repeal the definition.

18 Section 4 (paragraph (d) of the definition of eligible

international emissions unit)

Omit "rules; or", substitute "rules.".

19 Section 4 (paragraph (e) of the definition of eligible

international emissions unit)

Repeal the paragraph.

20 Section 4 (definition of European allowance unit)

Repeal the definition.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

21 Section 4 (definition of European Union Greenhouse Gas

Emission Allowance Trading Directive)

Repeal the definition.

22 Section 4 (definition of fixed charge year)

Repeal the definition.

23 Section 4 (definition of foreign account)

Repeal the definition, substitute:

foreign account, when used in relation to a Kyoto unit, means an

account kept within a foreign Kyoto registry.

24 Section 4 (definition of foreign government body)

Repeal the definition.

25 Section 4 (definition of hold)

Omit "a carbon unit or".

26 Section 4 (definition of Information Database)

Repeal the definition.

27 Section 4 (definition of international arrangement)

Repeal the definition.

28 Section 4 (definition of international organisation)

Repeal the definition.

29 Section 4 (definition of issue)

Repeal the definition, substitute:

issue, in relation to an Australian carbon credit unit, has the same

meaning as in the Carbon Credits (Carbon Farming Initiative) Act

2011.

30 Section 4 (definition of prescribed international unit)

Repeal the definition.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

31 Section 4 (definition of quarter)

Repeal the definition.

32 Section 4 (paragraph (aa) of the definition of registered

holder)

Repeal the paragraph.

33 Section 4 (paragraph (b) of the definition of registered

holder)

Omit "unit; or", substitute "unit.".

34 Section 4 (paragraph (c) of the definition of registered

holder)

Repeal the paragraph.

35 Section 4 (definition of relinquish)

Repeal the definition.

36 Section 4 (definition of transfer)

Repeal the definition, substitute:

transfer, in relation to a Kyoto unit, has the meaning given by

section 33.

37 Section 4 (definition of vintage year)

Repeal the definition.

38 Paragraph 9(4)(a)

Omit "carbon units, Australian carbon credit units and prescribed

international units", substitute "Australian carbon credit units".

39 Paragraph 11(5)(a)

Omit "carbon units or".

40 Section 14A

Repeal the section.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

41 Paragraph 15(2)(aa)

Repeal the paragraph.

42 Paragraph 15(2)(c)

Omit "account; and", substitute "account.".

43 Paragraph 15(2)(d)

Repeal the paragraph.

44 Subparagraph 16(2)(b)(ii)

Omit "(4), (5) and (6)", substitute "(4) and (6)".

45 Subsection 16(2A)

Repeal the subsection (not including the heading).

46 Subsection 16(5)

Repeal the subsection.

47 Paragraph 16(7)(b)

Omit "or (5)".

48 Subsection 17(1A)

Repeal the subsection.

49 Subsection 17(3)

Repeal the subsection.

50 Paragraph 19(3A)(a)

Omit "or 49A".

51 Subsection 19(3B)

Repeal the subsection.

52 Section 21

Repeal the section.

53 Paragraph 22(4A)(a)

Omit "or 49A".

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

54 Subsection 22(4B)

Repeal the subsection.

55 Subparagraph 26(3)(a)(ia)

Repeal the subparagraph.

56 Subparagraph 26(3)(a)(ii)

Omit "or".

57 Subparagraph 26(3)(a)(iii)

Repeal the subparagraph.

58 Paragraph 27(3B)(b)

Omit "account; or", substitute "account.".

59 Paragraph 27(3B)(c)

Repeal the paragraph.

60 Paragraph 28A(1)(aa)

Repeal the paragraph.

61 Paragraph 28A(1)(b)

Omit "or".

62 Paragraph 28A(1)(c)

Repeal the paragraph.

63 Paragraph 28A(4)(aa)

Repeal the paragraph.

64 Paragraph 28B(1)(aa)

Repeal the paragraph.

65 Paragraph 28B(1)(b)

Omit "or".

66 Paragraph 28B(1)(c)

Repeal the paragraph.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

67 Paragraph 28B(11)(aa)

Repeal the paragraph.

68 Subsection 28B(11) (paragraph (c) of the note)

Omit "Act; and", substitute "Act.".

69 Subsection 28B(11) (paragraphs (d) and (e) of the note)

Repeal the paragraphs.

70 Paragraph 28C(17)(aa)

Repeal the paragraph.

71 Subparagraph 28D(5)(a)(ii)

Omit "carbon units or".

72 Paragraph 28D(5)(b)

Repeal the paragraph, substitute:

(b) a notice to relinquish Australian carbon credit units under

section 175 of the Carbon Credits (Carbon Farming

Initiative) Act 2011 does not have effect.

73 Paragraph 28D(16)(aa)

Repeal the paragraph.

74 Part 4

Repeal the Part.

75 Section 58

Omit:

•

The Regulator must publish certain information about:

(a)

the holders of Registry accounts; and

(b)

carbon units; and

(c)

Kyoto units; and

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

(d)

prescribed international units.

substitute:

•

The Regulator must publish certain information about:

(a)

the holders of Registry accounts; and

(b)

Kyoto units.

76 Section 59A

Repeal the section.

77 Subsections 61(3) to (6)

Repeal the subsections.

78 Section 61A

Repeal the section.

79 Sections 63 to 63G

Repeal the sections.

80 Section 64

Omit:

•

If a person is the registered holder of one or more carbon

units, the person may request the Regulator to cancel any or

all of those units. However, this rule does not apply to a unit

that was issued for a fixed charge and has a vintage year that

is a fixed charge year.

81 Section 64

Omit:

•

If a person is the registered holder of one or more prescribed

international units, the person may request the Regulator to

cancel any or all of those units.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

82 Section 64A

Repeal the section.

83 Section 66

Repeal the section.

84 Parts 6A and 6B

Repeal the Parts.

85 Paragraph 79(1)(c)

Omit "27(4);", substitute "27(4).".

86 Paragraph 79(1)(d)

Repeal the paragraph.

87 Section 82 (table item 2)

Omit "or 53".

88 Section 82 (table item 3)

Repeal the item.

89 Section 82 (table items 8 and 9)

Omit "or 21".

90 Section 82 (table items 15 and 16)

Repeal the items.

91 Section 86A

Repeal the section.

Australian Securities and Investments Commission Act 2001

92 Paragraph 12BAA(7)(ka)

Repeal the paragraph.

93 Paragraph 12BAB(1)(g)

Omit "a carbon unit,".

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

94 At the end of the Act

Add:

Part 20--Transitional provisions relating to the

Clean Energy Legislation (Carbon Tax

Repeal) Act 2014

295 Definition

In this Part:

designated carbon unit day has the same meaning as in Part 3 of

Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal)

Act 2014.

296 Transitional--carbon units issued before the designated carbon

unit day

Despite the amendments of this Act made by Schedule 1 to the

Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act

continues to apply, in relation to carbon units issued before the

designated carbon unit day, as if those amendments had not been

made.

Clean Energy Regulator Act 2011

95 Section 3

Omit:

•

The Regulator has such functions as are conferred on it by or

under:

(a)

the Clean Energy Act 2011; and

(b)

the Carbon Credits (Carbon Farming Initiative)

Act 2011; and

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

(c)

the National Greenhouse and Energy Reporting

Act 2007; and

(d)

the Renewable Energy (Electricity) Act 2000; and

(e)

the Australian National Registry of Emissions

Units Act 2011.

substitute:

•

The Regulator has such functions as are conferred on it by or

under:

(a)

the Carbon Credits (Carbon Farming Initiative)

Act 2011; and

(b)

the National Greenhouse and Energy Reporting

Act 2007; and

(c)

the Renewable Energy (Electricity) Act 2000; and

(d)

the Australian National Registry of Emissions

Units Act 2011.

96 Section 4

Insert:

Climate Change Convention means the United Nations

Framework Convention on Climate Change, done at New York on

9 May 1992, as amended and in force for Australia from time to

time.

Note:

The text of the Convention is set out in Australian Treaty Series 1994

No. 2 ([1994] ATS 2). In 2013, the text of a Convention in the

Australian Treaty Series was accessible through the Australian

Treaties Library on the AustLII website (www.austlii.edu.au).

97 Section 4 (paragraphs (b) to (h) of the definition of climate

change law)

Repeal the paragraphs.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

98 Section 4

Insert:

greenhouse gas has the same meaning as in the National

Greenhouse and Energy Reporting Act 2007.

99 Section 4 (definition of international agreement)

Repeal the definition, substitute:

international agreement means an agreement whose parties are:

(a) Australia and a foreign country; or

(b) Australia and 2 or more foreign countries.

100 Section 4 (definition of international climate change

agreement)

Repeal the definition, substitute:

international climate change agreement means:

(a) the Climate Change Convention; or

(b) any other international agreement, signed on behalf of

Australia, that:

(i) relates to climate change; and

(ii) imposes obligations on Australia to take action to

reduce greenhouse gas emissions; or

that:

(i) relates to climate change; and

(ii) is specified in a legislative instrument made by the

Minister for the purposes of this definition.

101 Section 4 (paragraph (a) of the definition of objectives of

the Regulator)

Repeal the paragraph.

102 Section 4 (definition of prescribed international unit)

Repeal the definition.

103 Paragraph 41(3)(a)

Repeal the paragraph.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

104 Paragraph 49(1)(z)

Repeal the paragraph, substitute:

(z) a person or body responsible for the administration of a

scheme that involves the issue or registration of prescribed

eligible carbon units;

Corporations Act 2001

105 Section 9 (definition of carbon unit)

Repeal the definition.

106 Paragraph 764A(1)(kaa)

Repeal the paragraph.

107 At the end Chapter 10

Add:

Part 10.23--Transitional provisions relating to the

Clean Energy Legislation (Carbon Tax

Repeal) Act 2014

1542 Definition

In this Part:

designated carbon unit day has the same meaning as in Part 3 of

Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal)

Act 2014.

1543 Transitional--carbon units issued before the designated

carbon unit day

Despite the amendments of this Act made by Schedule 1 to the

Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act

continues to apply, in relation to carbon units issued before the

designated carbon unit day, as if those amendments had not been

made.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

1544 Transitional--variation of conditions on Australian financial

services licences

Scope

(1) This section applies if, as at the end of the designated carbon unit

day, an Australian financial services licence is subject to a

condition that authorises the financial services licensee to provide

financial services in relation to financial products that are carbon

units.

Variation

(2) After that day, subsections 914A(3), (4) and (5) do not apply in

relation to a variation of the condition, if the only effect of the

variation is to remove the authorisation to provide financial

services in relation to financial products that are carbon units.

1545 Transitional--immediate cancellation of Australian financial

services licences

Section 915B applies, on and after the designated carbon unit day,

as if the following subsection was added at the end of the section:

Licence relating to carbon units

(5) ASIC may cancel an Australian financial services licence held by a

person, by giving written notice to the person, if the licence only

authorises the person to provide financial services that relate to

financial products that are carbon units.

1546 Transitional--statements of reasons for cancellation of

Australian financial services licences

Section 915G does not apply to a cancellation under

subsection 915B(5) (as inserted by section 1545).

Fuel Tax Act 2006

108 Section 2-1

Omit:

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

This Act provides a single system of fuel tax credits. Fuel tax

credits are paid to reduce the incidence of fuel tax levied on taxable

fuels, ensuring that, generally, fuel tax is effectively only applied

to:

(a) fuel used in private vehicles and for certain other private

purposes; and

(b) fuel used on-road in light vehicles for business purposes.

For fuel that is not

covered by the Opt-in Scheme, the fuel tax

credit entitlement is (with some exceptions) reduced by an amount

equivalent to what the carbon price on the fuel emissions would be

(if those emissions were subject to a carbon price). For fuel that is

covered by that Scheme, the entitlement is not so reduced.

Fuel tax credits are also provided for fuel for use in aircraft if the

fuel is covered by the Opt-in Scheme. The amount of the credit is

limited to the carbon component rate that was factored into the rate

of fuel tax.

Fuel tax credits are also provided for gaseous fuel that is subject to

the carbon pricing mechanism if the fuel is for use in agriculture,

fishing operations or forestry. The amount of the credit is the

amount of the carbon charge that is embedded in the price of the

fuel.

substitute:

This Act provides a single system of fuel tax credits. Fuel tax

credits are paid to reduce or remove the incidence of fuel tax levied

on taxable fuels, ensuring that, generally, fuel tax is effectively

only applied to:

(a) fuel used in private vehicles and for certain other private

purposes; and

(b) fuel used on-road in light vehicles for business purposes.

109 Subsection 40-5(2)

After "reduce", insert "or remove".

110 Subsections 40-5(3) and (4)

Repeal the subsections.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

111 Section 41-1

Omit:

However, fuel tax credits are denied under Subdivision 41-B if:

(a)

another person is already entitled to a fuel tax

credit in respect of the fuel; or

(b)

the fuel is for use on-road in light vehicles; or

(c)

the fuel is for use in vehicles that do not meet

certain environmental criteria; or

(d)

the fuel is for use in aircraft, and is not covered by

the Opt-in Scheme.

substitute:

However, fuel tax credits are denied under Subdivision 41-B if:

(a)

another person is already entitled to a fuel tax

credit in respect of the fuel; or

(b)

the fuel is for use on-road in light vehicles; or

(c)

the fuel is for use in vehicles that do not meet

certain environmental criteria; or

(d)

the fuel is for use in aircraft.

112 Paragraph 41-5(3)(b)

Omit "vehicle, vessel or aircraft", substitute "vehicle (or vessel)".

113 Subsection 41-15(1)

Omit "this Division, Division 42 or Division 42A" (wherever

occurring), substitute "this Division or Division 42".

114 Subparagraph 41-25(2)(a)(ii)

Omit "

agricultural property", substitute "agricultural property".

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

115 Section 41-30 (heading)

Repeal the heading, substitute:

41-30 No fuel tax credit for fuel to be used in an aircraft

116 Subsection 41-30(1)

Omit "(1)".

117 Subsection 41-30(2)

Repeal the subsection.

118 Section 41-35

Repeal the section.

119 Division 42A

Repeal the Division.

120 Section 43-1

Omit:

The amount of your credit for taxable fuel is the amount of fuel tax

that was payable on the fuel:

(a)

reduced to take account of certain grants and

subsidies that were payable in respect of the fuel

(as the grants or subsidies reduced the amount of

fuel tax that effectively applied to the fuel); and

(b)

for fuel that is not covered by the Opt-in Scheme--

reduced (with some exceptions) to take account of

what the carbon price on the fuel emissions would

be (if those emissions were subject to a carbon

price).

For fuel for use in aircraft that is covered by the Opt-in Scheme,

the amount of the credit is reduced so that it is limited to the carbon

component rate that was factored into the rate of fuel tax.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

For gaseous fuel that is subject to the carbon pricing mechanism,

the amount of the credit is the amount of the carbon charge that is

embedded in the price of the fuel.

substitute:

The amount of your credit for taxable fuel is the amount of fuel tax

that was payable on the fuel, reduced to take account of certain

grants and subsidies that were payable in respect of the fuel (as the

grants or subsidies reduced the amount of fuel tax that effectively

applied to the fuel).

121 Subsection 43-5(1)

Repeal the subsection, substitute:

(1) The

amount of your tax fuel credit for taxable fuel is the amount

effective fuel tax that is payable on the fuel.

Note:

The amount of the credit may be reduced under section 43-10.

122 Subsections 43-5(4) and (5)

Repeal the subsections.

123 Section 43-8

Repeal the section.

124 Section 43-10 (heading)

Repeal the heading, substitute:

43-10 Reducing the amount of your fuel tax credit

125 Subsection 43-10(1A)

Repeal the subsection.

126 Section 43-11

Repeal the section.

127 Subdivision 43-B

Repeal the Subdivision.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

128 Section 110-5 (definition of agricultural activity)

Repeal the definition.

129 Section 110-5 (definition of agricultural construction

activity)

Repeal the definition.

130 Section 110-5 (definition of agricultural property)

Repeal the definition.

131 Section 110-5 (definition of agricultural soil/water

activity)

Repeal the definition.

132 Section 110-5 (definition of agricultural waste activity)

Repeal the definition.

133 Section 110-5 (definition of agriculture)

Repeal the definition.

134 Section 110-5 (definition of approved catchment area)

Repeal the definition.

135 Section 110-5 (definition of carbon reduction)

Repeal the definition.

136 Section 110-5 (definition of CNG)

Repeal the definition.

137 Section 110-5 (definition of core agricultural activity)

Repeal the definition.

138 Section 110-5 (definition of covered by the Opt-in

Scheme)

Repeal the definition.

139 Section 110-5 (definition of earthworks)

Repeal the definition.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

140 Section 110-5 (definition of fish)

Repeal the definition.

141 Section 110-5 (definition of fishing operations)

Repeal the definition.

142 Section 110-5 (definition of forestry)

Repeal the definition.

143 Section 110-5 (definition of half-year)

Repeal the definition.

144 Section 110-5 (definition of horticulture)

Repeal the definition.

145 Section 110-5 (definition of livestock)

Repeal the definition.

146 Section 110-5 (definition of livestock activity)

Repeal the definition.

147 Section 110-5 (definition of LNG)

Repeal the definition.

148 Section 110-5 (definition of pearling operations)

Repeal the definition.

149 Section 110-5 (definition of port)

Repeal the definition.

150 Section 110-5 (definition of processing of fish)

Repeal the definition.

151 Section 110-5 (definition of public authority)

Repeal the definition.

152 Section 110-5 (definition of renewable diesel)

Repeal the definition.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

153 Section 110-5 (definition of sundry agricultural activity)

Repeal the definition.

154 Section 110-5 (definition of taxable fuel)

Repeal the definition, substitute:

taxable fuel means fuel in respect of which duty is payable under:

(a) the Excise Act 1901 and the Excise Tariff Act 1921; or

(b) the Customs Act 1901 and the Customs Tariff Act 1995;

but does not include fuel covered by:

1921; or

(d) any imported goods that would be classified to item 15 of the

Schedule to the Excise Tariff Act 1921, if the goods had been

manufactured in Australia.

Note:

Item 15 of the Schedule to the Excise Tariff Act 1921 deals with

certain petroleum based oils and greases. Item 20 of that Schedule

deals with certain stabilised crude petroleum oils. Item 21 of that

Schedule deals with certain condensate.

Fuel Tax (Consequential and Transitional Provisions) Act

2006

155 Subitem 12(2A) of Schedule 3

Repeal the subitem.

Income Tax Assessment Act 1997

156 Section 12-

5 (table item headed "clean energy")

Repeal the item.

157 Section 26-18

Repeal the section.

158 Section 104-5 (table item relating to CGT event K1,

column headed "Event number and description")

Omit "

carbon unit, an

international emissions unit", substitute

Kyoto unit".

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

159 Subparagraphs 104-205(1)(a)(i) and (ii)

Repeal the subparagraphs.

160 Subparagraph 104-205(1)(a)(iii)

Omit "an

international emissions unit", substitute "a

Kyoto unit".

161 Subparagraph 104-205(1)(a)(iv)

Omit "an

international emissions unit", substitute "a Kyoto unit".

162 Section 112-97 (table item

18A, column headed "In this

situation")

Omit "an

international emissions unit", substitute "a

Kyoto unit".

163 Subsection 118-15(2)

Repeal the subsection.

164 Paragraph 420-10(a)

Repeal the paragraph.

165 Paragraph 420-10(c)

Repeal the paragraph.

166 Subsection 420-15(1) (note)

Repeal the note.

167 Subsection 420-15(3)

Repeal the subsection.

168 Subsection 420-20(3)

Repeal the subsection (not including the note), substitute:

(3) This section does not apply to the issue of an

Australian carbon

credit unit under the Carbon Credits (Carbon Farming Initiative)

Act 2011.

169 Subparagraphs 420-21(1)(a)(i) and (ii)

Repeal the subparagraphs.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

170 Subparagraph 420-21(1)(a)(iii)

Omit "an

international emissions unit", substitute "a

Kyoto unit".

171 Subparagraph 420-21(1)(a)(iv)

Omit "an international emissions unit", substitute "a Kyoto unit".

172 Subsection 420-21(1) (example)

Omit "of international emissions unit", substitute "of Kyoto unit".

173 Subparagraphs 420-21(2)(a)(i) and (ii)

Repeal the subparagraphs.

174 Subparagraph 420-21(2)(a)(iii)

Omit "an

international emissions unit", substitute "a

Kyoto unit".

175 Subparagraph 420-21(2)(a)(iv)

Omit "an international emissions unit", substitute "a Kyoto unit".

176 Subparagraph 420-35(b)(i)

Repeal the subparagraph.

177 Subparagraph 420-35(b)(ii)

Omit "an

international emissions unit", substitute "a

Kyoto unit".

178 Section 420-35 (example)

Omit "of international emissions unit", substitute "of Kyoto unit".

179 Section 420-43

Repeal the section.

180 Subsection 420-51(1)

Omit "(1)".

181 Subsection 420-51(2)

Repeal the subsection.

182 Subparagraph 420-52(a)(i)

Repeal the subparagraph.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

183 Paragraph 420-52(b)

Repeal the paragraph.

184 Subsection 420-55(6)

Repeal the subsection.

185 Subsection 420-57(9)

Repeal the subsection.

186 Section 420-58

Repeal the section.

187 Subsections 420-60(1) and (2)

Repeal the subsections.

188 Subsection 420-60(4)

Omit all the words from and including "If a

registered" to and

including "cost of the unit", substitute "The cost of a

registered

emissions unit (other than an

Australian carbon credit unit)".

189 Subsection 420-65(3)

Repeal the subsection.

190 Subsection 420-70(3)

Repeal the subsection.

191 Subsection 995-1(1) (definition of carbon unit)

Repeal the definition.

192 Subsection 995-1(1) (definition of free carbon unit)

Repeal the definition.

193 Subsection 995-1(1) (definition of international emissions

unit)

Repeal the definition.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

194 Subsection 995-1(1) (definition of prescribed

international unit)

Repeal the definition.

195 Subsection 995-1(1) (definition of vintage year)

Repeal the definition.

National Greenhouse and Energy Reporting Act 2007

196 Section 3 (heading)

Repeal the heading, substitute:

3 Object

197 Subsection 3(1)

Omit "(1) The first object", substitute "The object".

198 Subsection 3(2)

Repeal the subsection.

199 Subsection 4(1)

Omit "(1) This Act (except to the extent to which it underpins the Clean

Energy Act 2011)", substitute "This Act".

200 Subsection 4(2)

Repeal the subsection.

201 Subsection 5(1)

Omit "(1)".

202 Before subparagraph 5(1)(a)(ii)

Insert:

(i) greenhouse gas emissions; or

203 Subsection 5(2)

Repeal the subsection.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

204 Section 7 (definition of carbon dioxide equivalence)

Repeal the definition, substitute:

carbon dioxide equivalence, of an amount of greenhouse gas,

means the amount of the gas multiplied by a value specified in the

regulations in relation to that kind of greenhouse gas.

205 Section 7

Insert:

designated financial year means:

(a) the financial year beginning on 1 July 2012; or

(b) a later financial year.

206 Section 7 (definition of designated fuel)

Repeal the definition.

207 Section 7 (definition of eligible financial year)

Repeal the definition.

208 Section 7 (definition of emissions number)

Repeal the definition.

209 Section 7 (definition of financial control liability transfer

certificate)

Repeal the definition.

210 Section 7 (definition of fixed charge year)

Repeal the definition.

211 Section 7 (definition of foreign country)

Repeal the definition, substitute:

foreign country includes a region where:

(a) the region is a colony, territory or protectorate of a foreign

country; or

(b) the region is part of a foreign country; or

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

(d) a foreign country exercises jurisdiction or control over the

region; or

(e) a foreign country is responsible for the region's international

relations.

212 Section 7

Insert:

foreign corporation means a corporation that:

(a) is incorporated outside Australia; or

(b) is an authority of a foreign country.

213 Section 7 (definition of foreign person)

Repeal the definition.

214 Section 7

Insert:

group entity means a corporation that is a member of a controlling

corporation's group.

215 Section 7 (definition of interim emissions number)

Repeal the definition.

216 Section 7 (definition of liable entity)

Repeal the definition.

217 Section 7 (definition of liquefied natural gas)

Repeal the definition.

218 Section 7 (definition of liquefied petroleum gas)

Repeal the definition.

218A Section 7 (definition of local governing body)

Repeal the definition.

219 Section 7 (definition of natural gas supplier)

Repeal the definition.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

220 Section 7 (definition of non-group entity)

Repeal the definition.

221 Section 7 (definition of operational control)

Omit "11A, 11B or 11C", substitute "11A or 11B".

222 Section 7 (definition of Opt-in Scheme)

Repeal the definition.

223 Section 7 (definition of OTN)

Repeal the definition.

224 Section 7 (definition of person)

Repeal the definition.

225 Section 7 (definition of potential greenhouse gas

emissions)

Repeal the definition.

226 Section 7 (definition of provisional emissions number)

Repeal the definition.

227 Section 7 (definition of supply)

Repeal the definition.

228 Section 7 (definition of taxable fuel)

Repeal the definition.

229 Section 7 (definition of trust)

Repeal the definition.

230 Section 7 (definition of trustee)

Repeal the definition.

231 Section 7 (definition of trust estate)

Repeal the definition.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

232 Section 7 (definition of unit shortfall charge)

Repeal the definition.

233 Subsection 7A(1)

Omit "and the Clean Energy Act 2011".

234 Sections 7B and 7C

Repeal the sections.

235 Subsection 8(1)

Omit "and the Clean Energy Act 2011".

236 Subsection 9(1)

Omit "and the Clean Energy Act 2011".

237 Paragraph 9(1)(b)

Omit "or 54A".

238 Section 10 (heading)

Repeal the heading, substitute:

10 Emissions, energy production, energy consumption etc.

239 Subsection 10(1)

Omit "or the Clean Energy Act 2011".

240 Subsection 10(3)

Omit "and the Clean Energy Act 2011".

241 Subsections 10(4) to (9)

Repeal the subsections.

242 Subsection 11(1)

Omit "and the Clean Energy Act 2011".

243 Subsection 11(1)

Omit "person" (wherever occurring), substitute "group entity".

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

244 Paragraph 11(1)(b)

Omit "or 55A".

245 Subsection 11(3)

Omit "and the Clean Energy Act 2011".

246 Subsection 11(3)

Omit "person", substitute "group entity".

247 Subsection 11(4)

Omit "11A, 11B and 11C", substitute "11A and 11B".

248 Section 11A (heading)

Repeal the heading, substitute:

11A Operational control--group entity with greatest authority

249 Subsection 11A(1)

Omit "an eligible financial year", substitute "a designated financial

year".

250 Paragraph 11A(1)(a)

Omit "persons", substitute "group entities".

251 Paragraph 11A(1)(b)

Omit "person", substitute "group entity".

252 Paragraph 11A(1)(c)

Omit "or 55A".

253 Subsection 11A(2)

Omit "person", substitute "group entity".

254 Subsection 11A(2)

Omit "and the Clean Energy Act 2011".

255 Section 11B (heading)

Repeal the heading, substitute:

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

11B Operational control--nominated group entity

256 Paragraph 11B(1)(a)

Omit "more persons", substitute "more group entities".

257 Paragraph 11B(1)(a)

Omit "relevant persons", substitute "relevant group entities".

258 Paragraph 11B(1)(b)

Omit "person", substitute "group entity".

259 Paragraph 11B(1)(c)

Omit "or 55A".

260 Paragraph 11B(1)(d)

Omit "an eligible financial year", substitute "a designated financial

year".

261 Subsection 11B(2)

Omit "persons", substitute "group entities".

262 Subsection 11B(2)

Omit "person", substitute "group entity".

263 Paragraph 11B(4)(a)

Omit "persons is a foreign person", substitute "group entities is a

foreign corporation".

264 Paragraph 11B(4)(b)

Omit "persons is not a foreign person", substitute "group entities is not

a foreign corporation".

265 Subsection 11B(4)

Omit "foreign person cannot", substitute "foreign corporation cannot".

266 Paragraph 11B(5)(b)

Omit "persons", substitute "group entities".

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

267 Subsection 11B(7)

Repeal the subsection.

268 Subsection 11B(8)

Omit "eligible financial year" (wherever occurring), substitute

"designated financial year".

269 Subsection 11B(10)

Omit "person" (wherever occurring), substitute "group entity".

270 Paragraph 11B(15)(b)

Omit "and".

271 Paragraph 11B(15)(c)

Repeal the paragraph.

272 Subsection 11B(15)

Omit "person", substitute "group entity".

273 Subsection 11B(16)

Repeal the subsection.

274 Paragraph 11B(17)(b)

Omit "and".

275 Paragraph 11B(17)(c)

Repeal the paragraph.

276 Subsection 11B(17)

Omit "persons", substitute "group entities".

277 Subsections 11B(18) and (19)

Repeal the subsections.

278 Subsection 11B(21)

Repeal the subsection, substitute:

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Exceptions

(21) A group entity is not required to comply with subsection (20) if the

question of who has operational control of the facility is not

relevant (whether directly or indirectly) to a requirement under this

Act.

279 Subsection 11B(22)

Omit "person", substitute "group entity".

280 Subsection 11B(22)

Omit "or 55A".

281 Section 11C

Repeal the section.

282 Paragraph 11D(1)(c)

Repeal the paragraph.

283 Paragraphs 11D(1)(e) and (f)

Repeal the paragraphs, substitute:

(e) at any time during the preceding 5 years, the person has

breached a civil penalty provision of this Act; or

(f) if the person is a body corporate--at any time during the

preceding 5 years, an executive officer of the body corporate

has breached a civil penalty provision of this Act; or

284 Paragraphs 11D(1)(i) and (j)

Repeal the paragraphs, substitute:

(i) the person has been convicted of an offence against this Act;

(j) if the person is a body corporate--an executive officer of the

body corporate has been convicted of an offence against this

Act.

285 Subdivision A of Division 1 of Part 2 (heading)

Repeal the heading.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

286 Subsections 13(2) and (3)

Omit "member of a controlling corporation's group", substitute "group

entity".

287 Subsection 13(4)

Repeal the subsection.

288 Subdivision B of Division 1 of Part 2

Repeal the Subdivision.

289 Division 4 of Part 2

Repeal the Division.

290 Paragraph 18B(3)(b)

Repeal the paragraph.

291 Subsection 19(1) (note 4)

Repeal the note.

292 Subsection 19(4)

Repeal the subsection.

293 Paragraphs 22(1)(a) and (b)

Omit "(other than Part 3A or 3D)".

294 Paragraphs 22(2)(a) and (b)

Omit "(other than Part 3A or 3D)".

295 Parts 3A and 3D

Repeal the Parts.

296 Paragraph 22X(1)(a)

Repeal the paragraph, substitute:

(a) a facility is under the operational control of a member (the

responsible member) of a controlling corporation's group

during the whole or a part of a financial year; and

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

297 Subsection 24(1AA)

Repeal the subsection.

298 Subsection 24(1AD)

Omit "22E or".

299 Paragraph 24(1AE)(a)

Omit "22E(2)(b) or".

300 Subsection 24(1H)

Omit "22E or".

301 Subsection 24(1J)

Omit "or financial control liability transfer certificate".

302 Subsection 24(8)

Omit "22E or".

303 Subsection 25(1)

Omit "22G, a person required to provide information under section 20,

or a person required to provide a report under section 22A, 22AA, 22E

or 22X", substitute "22G or 22X, or a person required to provide

information under section 20,".

304 Subsection 30(2A)

Omit "11C, 15A, 15AA, 22A, 22AA, 22E, 22X, 74AA", substitute

"22X".

305 Section 54A

Repeal the section.

306 Section 55A

Repeal the section.

307 Paragraphs 56(aab), (aa), (ga) and (gb)

Repeal the paragraphs.

Repeal of the carbon tax Schedule 1

Amendments Part 2

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

308 Paragraph 56(j)

Omit "75A;", substitute "75A."

309 Paragraphs 56(k) and (l)

Repeal the paragraphs.

310 Section 74AA

Repeal the section.

311 Subsection 74B(1)

Repeal the subsection, substitute:

(1) For the purposes of this section, a person is a relevant person if:

(a) the person is the responsible member mentioned in

subsection 22X(1); and

(b) the person is not a registered corporation; and

person has contravened, is contravening, or is proposing to

contravene, this Act or the regulations.

312 Subsection 74C(1)

Repeal the subsection, substitute:

(1) For the purposes of this section, a person is a relevant person if the

person:

(a) is the responsible member mentioned in subsection 22X(1);

and

(b) is not a registered corporation.

Ozone Protection and Synthetic Greenhouse Gas

Management Act 1989

313 Paragraphs 65C(1)(aa), (ab) and (ac)

Omit "equal to the prescribed rate component of an amount of levy".

314 Subsections 65C(4), (5) and (6)

Repeal the subsections.

Schedule 1 Repeal of the carbon tax

Part 2 Amendments

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

315 Sections 69AA to 69AD

Repeal the sections.

Petroleum Resource Rent Tax Assessment Act 1987

316 Subparagraph 28(1)(b)(iii)

Omit "expenditure;", substitute "expenditure.".

317 Paragraph 28(1)(c)

Repeal the paragraph.

318 Paragraph 44(1)(ia)

Repeal the paragraph.

Taxation Administration Act 1953

319 Subsection 355-65(7) in Schedule 1 (table item 3)

Repeal the item.

Repeal of the carbon tax Schedule 1

Application and transitional provisions Part 3

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Part 3

--Application and transitional provisions

Division 1

--Preliminary

320 Objects

(1)

The main objects of this Part are:

(a) to provide for the winding-up of the carbon tax scheme; and

(b) to ensure that carbon tax liabilities relating to:

(i) the financial year beginning on 1 July 2012; or

(ii) the financial year beginning on 1 July 2013;

can be administered, collected and recovered after the start of

1 July 2014; and

1 July 2014, to avoid being liable to pay unit shortfall charge

in relation to the financial year beginning on 1 July 2013; and

(d) to ensure that, after the start of 1 July 2014, the Regulator can

issue carbon units that are required for the financial year

beginning on 1 July 2013; and

(e) to continue, after the start of 1 July 2014, the carbon tax

related rights and obligations of liable entities, so far as those

rights and obligations relate to:

(i) the financial year beginning on 1 July 2012; or

(ii) the financial year beginning on 1 July 2013.

(2)

The other objects of this Part are:

(a) to ensure the validity of any carbon units issued as the result

of an auction conducted before 1 July 2014; and

(b) to cancel any carbon units that are not required for the

financial year beginning on 1 July 2013; and

units remain subject to other Commonwealth laws.

321 Definitions

In this Part:

designated carbon unit day has the meaning given by item 322.

Registry has the same meaning as in the Australian National Registry of

Emissions Units Act 2011.

Schedule 1 Repeal of the carbon tax

Part 3 Application and transitional provisions

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Registry account has the same meaning as in the Australian National

Registry of Emissions Units Act 2011.

Regulator means the Clean Energy Regulator.

322 Designated carbon unit day

(1)

For the purposes of this Part, designated carbon unit day means:

(a) 9 February 2015; or

(b) if a later day is specified in an instrument under

subitem (2)--that later day.

(2)

The Regulator may, by legislative instrument, specify a day for the

purposes of paragraph (1)(b).

(3)

The Regulator must not make an instrument under subitem (2) unless

the Regulator has made a determination under subsection 142(3) of the

Clean Energy Act 2011 that relates to 2 February 2015.

Note:

Subsection 142(3) of the Clean Energy Act 2011 enables the Regulator to extend the

2 February 2015 surrender deadline. See also item 345A (deadlines of 1 February and

15 June).

Repeal of the carbon tax Schedule 1

Application and transitional provisions Part 3

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Division 2

--Provisions relating to the Clean Energy Act

2011 and associated charge Acts

323 Winding-up of the carbon tax scheme

--recovery of

liabilities attributable to pre-1 July 2014 emissions etc.

(1)

Despite the repeal of the Clean Energy Act 2011 by this Schedule, that

Act continues in force, subject to:

(a) this Part; and

(b) the modifications set out in the following table;

as if that repeal had not happened.

Modifications of the Clean Energy Act 2011

Item

Provision

Modification

section 4

Omit the section.

section 5 (definitions of

average carbon unit

auction price,

benchmark average

auction charge, carbon

pollution cap, carbon

pollution cap number,

designated limit, and

designated limit

percentage)

Omit the definitions.

section 5 (definition of

eligible financial year)

Omit the definition, substitute:

eligible financial year means:

(a) the financial year beginning on 1 July 2012;

(b) the financial year beginning on 1 July 2013.

section 5 (definition of

fixed charge year)

Omit the definition, substitute:

fixed charge year means:

(a) the financial year beginning on 1 July 2012;

(b) the financial year beginning on 1 July 2013.

section 5 (definitions of

flexible charge year and

per-tonne carbon price

Omit the definitions.

Schedule 1 Repeal of the carbon tax

Part 3 Application and transitional provisions

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Modifications of the Clean Energy Act 2011

Item

Provision

Modification

equivalent)

section 5 (definition of

unit shortfall)

Omit "128, 129 or 133", substitute "128 or

129".

section 5 (definition of

vintage year)

Omit "eligible".

Part 2

Omit the Part.

subsections 26(2), 27(2)

and 28(2)

Omit all the words after "is taken to be",

substitute "zero".

Subdivision A of

Division 4 of Part 3

The Regulator must not issue an OTN under the

Subdivision on or after 1 July 2014.

sections 42 and 43

Omit the sections.

section 43A

The section ceases to have effect at the end of

30 June 2015.

subsection 45(3)

The subsection ceases to have effect at the end

of 30 June 2015.

subsections 45(4) to (13)

The subsections cease to have effect at the start

of 1 September 2014.

subsection 46(1)

The subsection has effect, on and after

1 September 2014, as if the words "(as it stood

at a particular time before the start of

1 September 2014)" were inserted after "OTN

section 47

The section ceases to have effect at the start of

1 August 2014.

section 64B

Omit the section.

paragraph 64F(1)(b)

Omit the paragraph.

subsection 66(4)

The subsection ceases to have effect at the start

of 1 August 2014.

section 70

The Regulator must not make a declaration

under the section on or after 1 July 2014.

section 71A

Omit the section.

section 72

The Regulator must not give a notice under the

section on or after 1 July 2014.

section 83

The Regulator must not issue a certificate under

the section on or after 1 July 2014.

Repeal of the carbon tax Schedule 1

Application and transitional provisions Part 3

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Modifications of the Clean Energy Act 2011

Item

Provision

Modification

section 87

The Regulator must not issue a certificate under

the section on or after 1 July 2014.

sections 89 and 90

Omit the sections.

section 93

Omit the section.

subsection 96(2)

Omit "eligible".

section 97 (note)

Omit the note.

subsection 100(1) (table

items 5, 6, 7, 8 and 9)

Omit the table items.

subsection 100(2)

Omit the subsection.

subsection 100(3)

(heading)

Omit "1, 3 and 5", substitute "1 and 3".

subsection 100(3)

Omit "1, 3 or 5", substitute "1 or 3".

subsection 100(4)

(heading)

Omit "2, 4, 6, 7, 8 and 9", substitute "2 and 4".

subsection 100(4)

Omit "2, 4, 6, 7, 8 or 9", substitute "2 or 4".

subsections 100(9), (14)

and (15)

Omit the subsections.

sections 101 and 102

Omit the sections.

sections 108 and 109

Omit the sections.

section 114

Omit the section.

Division 1 of Part 6

Omit the Division.

subsection 122(1)

Omit "during an eligible financial year".

subsections 122(3), (4),

(5), (9) and (11)

Omit the subsections.

sections 123 and 123A

Omit the sections.

paragraph 128(7)(d)

Before "this Division", insert "if the eligible

financial year began on 1 July 2012--".

Subdivision B of

Division 3 of Part 6

Omit the Subdivision.

subsection 134(3)

Omit the subsection.

subsection 134A(3)

(paragraph (b) of the

definition of applicable

amount for the financial

Omit the paragraph.

Schedule 1 Repeal of the carbon tax

Part 3 Application and transitional provisions

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Modifications of the Clean Energy Act 2011

Item

Provision

Modification

year)

paragraphs 142(3)(c), (e)

and (f)

Omit the paragraphs.

48A

section 144

Omit the section.

paragraph 145(5)(b)

Omit the paragraph.

paragraph 145(5)(c)

Omit the paragraph, substitute:

negative effect on recipients of assistance

under the Jobs and Competitiveness

Program;

Division 5 of Part 7

Omit the Division.

section 160

Omit the section.

paragraphs 161(2)(b) and

(c)

Omit the paragraphs.

subsection 161(3)

Omit the subsection.

subsection 161(4)

Omit "or (3)".

subsection 161(5)

Omit "a later", substitute "an".

subsections 161(6), (7),

(8) and (9)

Omit "or (3)".

Part 9

The Part ceases to have effect at the end of

30 June 2015.

Division 3 of Part 9

Omit the Division.

sections 196 and 196A

Omit the sections.

subsections 197(3) to (6)

Omit the subsections.

section 199

After "each quarter", insert "that ends on or

before 31 March 2015".

section 200

Omit the section.

subsection 212(2)

(subparagraph (d)(ii) of

the definition of

prescribed amount for

the financial year in

which the compliance

deadline occurs)

Omit the subparagraph.

subsection 212(3)

Omit the subparagraph.

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Modifications of the Clean Energy Act 2011

Item

Provision

Modification

(subparagraph (d)(ii) of

the definition of

prescribed amount for

the financial year in

which the compliance

deadline occurs)

Part 12

Omit the Part.

paragraphs 262(1)(ma),

(r), (u) and (v) and

263(2)(g), (i) and (j)

Omit the paragraphs.

section 281 (table

items 3, 4, 5, 7, 8, 11, 12,

13 and 16)

Omit the table items.

Part 22

Omit the Part.

subparagraph 295(d)(iii)

Omit the subparagraph.

subparagraph 295(e)(ii)

Omit the subparagraph.

subparagraph 295(i)(iii)

Omit the subparagraph.

sections 303A and 303B

Omit the sections.

Carbon units with a vintage year beginning on or after 1 July

2014

(2)

The modification made by item 3 of the table in subitem (1) does not

apply in relation to the issue of a carbon unit with a vintage year

beginning on or after 1 July 2014, if the carbon unit was issued as a

result of an auction conducted before 1 July 2014.

Review of decisions

(3)

The modification of section 281 of the Clean Energy Act 2011 made by

the table in subitem (1) does not apply to a decision made before 1 July

2014.

Civil penalty orders

(4)

The modification of section 262 of the Clean Energy Act 2011 made by

the table in subitem (1) does not apply to a contravention that occurred

before 1 July 2014.

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324 Application

--repeal of Charge Acts

Charge for issue of carbon units for a fixed charge

(1)

The repeal by this Schedule of the following Acts, so far as they relate

to the issue of carbon units in accordance with section 100 of the Clean

Energy Act 2011:

(a) the Clean Energy (Charges--Customs) Act 2011;

(b) the Clean Energy (Charges--Excise) Act 2011;

2011;

does not apply to the issue of carbon units with a vintage year beginning

on 1 July 2012 or 1 July 2013.

Charge for issue of carbon units as a result of an auction

(2)

The repeal by this Schedule of the following Acts, so far as they relate

to the issue of carbon units as a result of an auction:

(a) the Clean Energy (Charges--Customs) Act 2011;

(b) the Clean Energy (Charges--Excise) Act 2011;

does not apply to the issue of carbon units if the carbon units were

issued as a result of an auction conducted before 1 July 2014.

Charge on unit shortfall

(3)

The repeal by this Schedule of the following Acts, so far as they relate

to a unit shortfall for a financial year:

(a) the Clean Energy (Charges--Customs) Act 2011;

(b) the Clean Energy (Charges--Excise) Act 2011;

2011;

does not apply to:

(d) a unit shortfall for the financial year beginning on 1 July

2012; or

(e) a unit shortfall for the financial year beginning on 1 July

2013.

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325 Issue of carbon units

The Regulator must not issue any carbon units after the start of the

designated carbon unit day.

327 Cancellation of carbon units

--designated carbon unit

day

Scope

(1)

This item applies if there was an entry for a carbon unit in a person's

Registry account at the start of the designated carbon unit day.

Cancellation of unit

(2)

The Regulator must cancel the unit.

(3)

The Regulator must remove the entry for the unit from the person's

Registry account.

(4)

The Registry must set out a record of each cancellation under

subitem (2).

328 Surrender of eligible Australian carbon credit units

(1)

If:

(a) subsection 128(7) of the Clean Energy Act 2011 applies to a

person because the person surrendered, in relation to the

financial year beginning on 1 July 2013, eligible Australian

carbon credit units; and

(b) under paragraph (c) of that subsection, Division 3 of Part 6 of

that Act has effect as if the person had not surrendered,

during the period mentioned in paragraph (a) of that

subsection, a particular number of eligible Australian carbon

credit units; and

then:

(d) the Regulator must, by written notice given to the person,

determine that specified eligible Australian carbon credit

units that were surrendered by the person:

(i) during that period; and

(ii) in relation to the financial year beginning on 1 July

2013;

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Part 3 Application and transitional provisions

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No. , 2014

are restored units for the purposes of this item; and

(e) a restored unit is taken never to have been surrendered or

cancelled; and

(f) the Regulator must make an entry for a restored unit in a

Registry account kept by the person.

(2)

The number of units specified in the determination must equal the

number mentioned in paragraph (1)(b).

(3)

Subitem (1) does not affect the validity of the removal of the entry of a

restored unit from a Registry account in accordance with

paragraph 122(12)(b) of the Clean Energy Act 2011.

(4)

A determination under paragraph (1)(d) is not a legislative instrument.

329 Opt-in Scheme

(1)

A reference in the Opt-in Scheme to a financial year does not include a

reference to a financial year beginning on or after 1 July 2014.

(2)

Regulations 3.48 and 3.50 of the Clean Energy Regulations 2011 cease

to have effect at the end of 30 June 2014.

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Division 3

--Provisions relating to other Acts

330 Transitional

--A New Tax System (Goods and Services

Tax) Act 1999

Despite the amendments of the A New Tax System (Goods and Services

Tax) Act 1999 made by this Schedule, that Act continues to apply, in

relation to carbon units issued before the designated carbon unit day, as

if those amendments had not been made.

331 Transitional

--Anti-Money Laundering and

Counter-Terrorism Financing Act 2006

Despite the amendments of the Anti-Money Laundering and

Counter-Terrorism Financing Act 2006 made by this Schedule, that Act

continues to apply, in relation to carbon units issued before the

designated carbon unit day, as if those amendments had not been made.

332 Transitional

--Australian National Registry of Emissions

Units Act 2011

Despite the amendments of the Australian National Registry of

Emissions Units Act 2011 made by this Schedule, that Act continues to

apply, in relation to carbon units issued before the designated carbon

unit day, as if those amendments had not been made.

333 Transitional

--Clean Energy Regulator Act 2011

(1)

Despite the amendment of the definition of climate change law in

section 4 of the Clean Energy Regulator Act 2011 made by this

Schedule, that definition continues to apply, in relation to

paragraph 12(a) and subsection 43(3) and section 44 of that Act, as if

that amendment had not been made.

(2)

Each of the following:

(a) this Act;

(b) a legislative instrument under this Act;

Act 2014;

(d) the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act

2014;

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Part 3 Application and transitional provisions

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is taken to be a climate change law for the purposes of paragraph 12(a)

and subsection 43(3) and section 44 of the Clean Energy Regulator Act

2011.

334 Application

--amendments of the Fuel Tax Act 2006

The amendments of the Fuel Tax Act 2006 made by this Schedule apply

to taxable fuel acquired, manufactured or imported on or after 1 July

2014.

335 Application

--amendment of the Fuel Tax (Consequential

and Transitional Provisions) Act 2006

The amendment of the Fuel Tax (Consequential and Transitional

Provisions) Act 2006 made by this Act applies to taxable fuel acquired,

manufactured or imported on or after 1 July 2014.

336 Application

--amendments of the Income Tax

Assessment Act 1997

(1)

The repeal of section 26-18 of the Income Tax Assessment Act 1997 by

this Schedule does not apply to unit shortfall charge imposed on:

(a) a unit shortfall for the financial year beginning on 1 July

2012; or

(b) a unit shortfall for the financial year beginning on 1 July

2013.

(2)

Despite the amendments of the Income Tax Assessment Act 1997 made

by this Schedule (other than the amendment of section 12-5 or the

repeal of section 26-18), that Act continues to apply, in relation to

carbon units issued before the designated carbon unit day, as if those

amendments had not been made.

337 Transitional

--National Greenhouse and Energy

Reporting Act 2007

General

(1)

Despite the amendments of the National Greenhouse and Energy

Reporting Act 2007 made by this Schedule, that Act continues to apply,

in relation to the following matters:

(a) determining the meaning of the following expressions, when

used in the Clean Energy Act 2011:

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(i) carbon dioxide equivalence;

(ii) facility;

(iii) greenhouse gas;

(iv) group;

(v) member, when used in relation to a group;

(vi) non-group entity;

(vii) operational control;

(viii) potential greenhouse gas emissions;

(ix) provisional emissions number;

(x) scope 1 emission of greenhouse gas;

(b) the matters mentioned in subsections 10(3) to (9) of the

National Greenhouse and Energy Reporting Act 2007, so far

as those matters are relevant to the Clean Energy Act 2011;

Greenhouse and Energy Reporting Act 2007;

(d) records under section 22B, 22C or 22F of the National

Greenhouse and Energy Reporting Act 2007;

(e) applications under section 15A or 15AA of the National

Greenhouse and Energy Reporting Act 2007;

(f) the registration of persons under section 18A of the National

Greenhouse and Energy Reporting Act 2007;

(g) the publication of information under section 24 of the

National Greenhouse and Energy Reporting Act 2007, so far

as the information relates to:

(i) the financial year beginning on 1 July 2012; or

(ii) the financial year beginning on 1 July 2013;

(h) audits under section 74AA of the National Greenhouse and

Energy Reporting Act 2007;

(i) audits under section 74B or 74C of the National Greenhouse

and Energy Reporting Act 2007, so far as the audits relate to

a person's compliance with obligations under that Act (or

regulations under that Act) in relation to:

(i) the financial year beginning on 1 July 2012; or

(ii) the financial year beginning on 1 July 2013;

as if:

(j) the National Greenhouse and Energy Reporting Act 2007

were modified as set out in the following table; and

(k) those amendments had not been made; and

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No. , 2014

(l) subitem (6) had not been enacted.

Modifications of the National Greenhouse and Energy Reporting Act 2007

Item

Provision

Modification

section 7 (definition of eligible

financial year)

Omit the definition, substitute:

eligible financial year means:

(a) the financial year beginning on

1 July 2012; or

(b) the financial year beginning on

1 July 2013.

section 7 (definition of fixed charge

year)

Omit the definition, substitute:

fixed charge year means:

(a) the financial year beginning on

1 July 2012; or

(b) the financial year beginning on

1 July 2013.

Thresholds

(2)

The amendments of the National Greenhouse and Energy Reporting Act

2007 made by this Schedule, so far as they are relevant to determining

whether a controlling corporation's group meets a threshold under

section 13 of that Act for a financial year, apply in relation to a

threshold for:

(a) the financial year beginning on 1 July 2014; or

(b) a later financial year.

Reports

(3)

The amendments of the National Greenhouse and Energy Reporting Act

2007 made by this Schedule, so far as they relate to reports under

section 19 of that Act, apply in relation to reports for:

(a) the financial year beginning on 1 July 2014; or

(b) a later financial year.

(4)

The amendments of the National Greenhouse and Energy Reporting Act

2007 made by this Schedule, so far as they relate to reports under

section 22G or 22X of that Act, apply in relation to reports for:

(a) the financial year beginning on 1 July 2014; or

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(b) a later financial year.

Unsatisfactory compliance record

(5)

Despite the amendments of section 11D of the National Greenhouse

and Energy Reporting Act 2007 made by this Schedule, that Act

continues to apply, in relation to:

(a) unpaid unit shortfall charge; and

(b) a breach of a civil penalty provision of:

(ii) the Clean Energy Act 2011; or

(iii) a determination under section 113 of the Clean Energy

Act 2011; and

2011;

as if those amendments had not been made.

Regulations

--carbon dioxide equivalence

(6)

If, immediately before the commencement of this item, regulations were

in force for the purposes of paragraph (a) of the definition of carbon

dioxide equivalence in section 7 of the National Greenhouse and

Energy Reporting Act 2007, the regulations have effect, after that

commencement, as if they had been made for the purposes of the

definition of carbon dioxide equivalence in section 7 of that Act as

amended by this Schedule.

Deregistration

--section 18A registrations

(7)

If:

(a) a person was registered under the National Greenhouse and

Energy Reporting Act 2007 because of the operation of

section 18A of that Act; and

(b) the person is registered under that Act as at the start of 1 July

2014;

the Regulator must remove the person's name from the Register.

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338 Transitional

--Ozone Protection and Synthetic

Greenhouse Gas Management Act 1989

Amounts to be credited to the Ozone Protection and SGG

Account

(1)

Despite the amendments of section 65C of the Ozone Protection and

Synthetic Greenhouse Gas Management Act 1989 made by this

Schedule, that section continues to apply, in relation to levy for a

quarter ending before 1 July 2014, as if those amendments had not been

made.

Remission or refund of levy for a quarter ending before 1 July

2014

(2)

Despite the repeal of sections 69AA to 69AD of the Ozone Protection

and Synthetic Greenhouse Gas Management Act 1989 by this Schedule,

those sections continue to apply, in relation to levy for a quarter ending

before 1 July 2014, as if:

(a) that Act provided that an application under section 69AA,

69AB or 69AC of that Act must be made before 1 January

2016; and

(b) that repeal had not happened.

339 Transitional

--Petroleum Resource Rent Tax Assessment

Act 1987

(1)

Despite the amendments of section 28 of the Petroleum Resource Rent

Tax Assessment Act 1987 made by this Schedule, that Act continues to

apply, in relation to carbon units issued before the designated carbon

unit day, as if those amendments had not been made.

(2)

The repeal of paragraph 44(1)(ia) of the Petroleum Resource Rent Tax

Assessment Act 1987 by this Schedule does not apply to unit shortfall

charge imposed on:

(a) a unit shortfall for the financial year beginning on 1 July

2012; or

(b) a unit shortfall for the financial year beginning on 1 July

2013.

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340 Transitional

--Taxation Administration Act 1953

Despite the amendment of the Taxation Administration Act 1953 made

by this Schedule, that Act continues to apply, in relation to records or

disclosures made for the purpose of:

(a) the verification from the Regulator of information provided

to the Commissioner under or for the purposes of the Fuel

Tax Act 2006 so far as that Act applies to taxable fuel

acquired, manufactured or imported before 1 July 2014; or

(b) administering the Clean Energy Act 2011 or the associated

provisions (within the meaning of that Act);

as if that amendment had not been made.

Repeal of the carbon tax Schedule 1

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Division 5

--Transitional provisions commencing on

Royal Assent

343 Auctions of carbon units

(1)

The Regulator must not conduct an auction of carbon units after the

earlier of the following days:

(a) the day this item commences;

(b) 30 June 2014.

(2)

Any determination under subsection 113(1) of the Clean Energy Act

2011 ceases to have effect at the end of the day (the relevant day) that is

the earlier of the following days:

(a) the day this item commences;

(b) 30 June 2014;

except to the extent to which the determination relates to auctions

conducted on or before the relevant day.

343A Carbon units issued as a result of an auction

conducted by the Regulator

(1)

If:

(a) a carbon unit was issued as a result of an auction conducted

by the Regulator; and

(b) there is an entry for the unit in a person's Registry account as

at 3.00 pm (by legal time in the Australian Capital Territory)

on the fifth business day after the day this item commences;

the Regulator must:

(d) remove the entry for the unit from the person's Registry

account; and

(e) on behalf of the Commonwealth, pay to the person an amount

equal to the charge paid for the issue of the unit.

(2)

The Registry must set out a record of each cancellation under

paragraph (1)(c).

(3)

The Consolidated Revenue Fund is appropriated for the purposes of

making payments under this item.

Schedule 1 Repeal of the carbon tax

Part 3 Application and transitional provisions

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

(4)

In this item:

business day means a day that is not:

(a) a Saturday; or

(b) a Sunday; or

344 Carbon pollution cap regulations

If this item commences on a day (the commencement day) before

31 May 2014, the Clean Energy Act 2011 has effect during the period:

(a) beginning at the start of the commencement day; and

(b) ending at the end of 30 June 2014;

as if section 16 of that Act had not been enacted.

345 Fixed charge regulations

If this item commences on a day (the commencement day) before

31 May 2014, the Clean Energy Act 2011 has effect during the period:

(a) beginning at the start of the commencement day; and

(b) ending at the end of 30 June 2014;

as if subsections 100(14) and (15) of that Act had not been enacted.

345A Deadlines of 1 February and 15 June

The Clean Energy Act 2011 has, and is taken always to have had, effect

as if the following definitions were inserted in section 5 of that Act:

15 June means:

(a) if the 15 June concerned is a business day--that 15 June; or

(b) if the 15 June concerned is not a business day--the first

business day after that 15 June.

1 February means:

(a) if the 1 February concerned is a business day--that

1 February; or

(b) if the 1 February concerned is not a business day--the first

business day after that 1 February.

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345B Surplus and estimation error adjustment number

The Clean Energy Act 2011 has, and is taken always to have had, effect

as if the formula in subsection 131(3) of that Act were omitted and the

following formula substituted:

Total estimation error numbers

Provisional surplus surrender number

345C Definitions

If this Division commences before 1 July 2014, this Division has effect

as if item 321 (definitions) had commenced at the same time as this

Division commences.

345D Compensation for acquisition of property

(1)

If the operation of this Schedule would result in an acquisition of

property (within the meaning of paragraph 51(xxxi) of the Constitution)

from a person otherwise than on just terms (within the meaning of that

paragraph), the Commonwealth is liable to pay a reasonable amount of

compensation to the person.

(2)

If the Commonwealth and the person do not agree on the amount of the

compensation, the person may institute proceedings in a court of

competent jurisdiction for the recovery from the Commonwealth of

such reasonable amount of compensation as the court determines.

Schedule 1 Repeal of the carbon tax

Part 4 Jobs and Competitiveness Program

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Part 4

--Jobs and Competitiveness Program

Division 1

--Preliminary

346 Definitions

(1)

In this Part:

levy means levy imposed by whichever of the following is applicable:

(a) the True-up Shortfall Levy (General) (Carbon Tax Repeal)

Act 2014;

(b) the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act

2014.

over-allocation of free carbon units has the meaning given by

item 354.

rules means rules made under item 359.

true-up shortfall has the meaning given by item 355.

under-allocation of free carbon units has the meaning given by

item 352.

(2)

An expression used in this Part and in the Clean Energy Act 2011 has

the same meaning in this Part as in that Act.

347 Crown to be bound

This Part binds the Crown in right of each of the States, of the

Australian Capital Territory, of the Northern Territory and of Norfolk

Island. However, it does not bind the Crown in right of the

Commonwealth.

348 Extension to external Territories

This Part extends to every external Territory.

349 Extension to exclusive economic zone and continental

shelf

This Part extends to Australia's exclusive economic zone and

continental shelf.

350 Extension to Joint Petroleum Development Area

This Part extends to the Joint Petroleum Development Area.

Repeal of the carbon tax Schedule 1

Jobs and Competitiveness Program Part 4

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Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Division 2

--Reporting requirements

351 Reporting requirements

Report

(1)

The rules may make provision for and in relation to requiring a

designated person to give a written report to the Regulator for the

purposes of this Part.

Designated person

(2)

For the purposes of this item, a person is a designated person if free

carbon units with a vintage year beginning on 1 July 2013 are or were

issued to the person in accordance with the Jobs and Competitiveness

Program.

Compliance with reporting requirements

(3)

Subsection 151(1) of the Clean Energy Act 2011 has effect as if a

requirement under rules made for the purposes of subitem (1) were a

requirement under the Jobs and Competitiveness Program.

Schedule 1 Repeal of the carbon tax

Part 4 Jobs and Competitiveness Program

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Division 3

--Issue of additional free carbon units

352 Under-allocation of free carbon units

For the purposes of this Part, if:

(a) free carbon units with a vintage year beginning on 1 July

2013 are or were issued to a person in accordance with the

Jobs and Competitiveness Program; and

(b) the conditions specified in the rules are satisfied;

then:

(d) the number of units in that under-allocation is equal to the

number ascertained in accordance with the rules.

353 Issue of additional free carbon units

(1)

If:

(a) a person has an under-allocation of free carbon units; and

(b) the person has a Registry account;

the Regulator must:

2011, a number of free carbon units equal to the number of

units in the under-allocation; and

(d) do so within the period ascertained in accordance with the

rules.

(2)

Free carbon units issued in accordance with subitem (1):

(a) are to have a vintage year beginning on 1 July 2013; and

(b) are taken (except for the purposes of this Part) to have been

issued in accordance with the Jobs and Competitiveness

Program.

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Jobs and Competitiveness Program Part 4

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Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Division 4

--True-up shortfalls

354 Over-allocation of free carbon units

For the purposes of this Part, if:

(a) free carbon units with a vintage year beginning on 1 July

2013 are or were issued to a person in accordance with the

Jobs and Competitiveness Program; and

(b) the conditions specified in the rules are satisfied;

then:

(d) the number of units in that over-allocation is equal to the

number ascertained in accordance with the rules.

355 True-up shortfall

(1)

For the purposes of this Part, if:

(a) a person has an over-allocation of free carbon units; and

(b) the number worked out using the formula in subitem (2)

exceeds zero;

then:

(d) the number of units in that shortfall is equal to the number

worked out using that formula.

Note:

Levy is imposed on a true-up shortfall by whichever of the following is applicable:

(a) the True-up Shortfall Levy (General) (Carbon Tax Repeal) Act

2014;

(b) the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act

2014.

(2)

The formula is as follows:

Number of units in

Number of units

the over-allocation

relinquished

where:

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Division 5

--Collection of levy

356 When levy is due and payable

Levy imposed on a true-up shortfall of a person is due and payable at

the end of the period ascertained in accordance with the rules.

357 Late payment penalty

(1)

If an amount of levy payable by a person remains unpaid after the time

when it became due for payment, the person is liable to pay, by way of

penalty, an amount calculated at the rate of:

(a) 20% per annum; or

(b) if a lower percentage is specified in the rules--that lower

percentage per annum;

on the amount unpaid, computed from that time.

Power to remit

(2)

The Regulator may remit the whole or a part of an amount payable

under subitem (1).

(3)

Applications may be made to the Administrative Appeals Tribunal for

review of decisions of the Regulator under subitem (2) to refuse to remit

the whole or a part of an amount.

358 Recovery of levy and late payment penalty

Scope

(1)

This item applies to the following amounts:

(a) an amount of levy;

(b) an amount payable under item 357.

Recovery

(2)

The amount:

(a) is a debt due to the Commonwealth; and

(b) may be recovered by the Regulator, on behalf of the

Commonwealth, by action in a court of competent

jurisdiction.

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Part 4 Jobs and Competitiveness Program

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Division 6

--Miscellaneous

358A Associated provisions

A reference in the Clean Energy Act 2011 (other than section 307) to

the associated provisions includes a reference to:

(a) the provisions of this Part; and

(b) the provisions of the rules; and

(Carbon Tax Repeal) Act 2014; and

(d) the provisions of the True-up Shortfall Levy (Excise) (Carbon

Tax Repeal) Act 2014.

359 Rules

(1)

The Minister may, by legislative instrument, make rules prescribing

matters:

(a) required or permitted by this Part to be prescribed by the

rules; or

(b) necessary or convenient to be prescribed for carrying out or

giving effect to this Part.

(2)

Conditions specified in rules made for the purposes of paragraph 352(b)

or 354(b) may relate to events or things that occurred, or circumstances

that existed, before the rules were registered under the Legislative

Instruments Act 2003.

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No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Schedule 2

--Price exploitation in relation to

the carbon tax repeal

Competition and Consumer Act 2010

1 After paragraph 2B(1)(a)

Insert:

(aa) Part V;

2 After subparagraph 6(2)(b)(i)

Insert:

(ia) Part V (other than Division 5);

3 After Part IVB

Insert:

Part V--Price exploitation in relation to the carbon

tax repeal

Division 1--Preliminary

60 Simplified outline of this Part

•

A corporation must not engage in price exploitation in

relation to the carbon tax repeal.

•

The Commission may monitor prices in relation to the

carbon tax repeal and the carbon tax scheme.

•

A corporation must not make false or misleading

representations about the effect of the carbon tax repeal, or

the carbon tax scheme, on the price for the supply of goods

or services.

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•

Infringement notices may be issued for contraventions of

this Part.

60A Definitions

In this Part:

carbon charge component of levy means so much of the amount

of the levy as is calculated by multiplying the number of tonnes of

carbon dioxide equivalence by a per unit charge applicable under

subsection 100(1) of the Clean Energy Act 2011 for the issue of a

carbon unit.

carbon tax repeal means:

(a) the repeal of the following Acts by the Clean Energy

Legislation (Carbon Tax Repeal) Act 2014:

(i) the Clean Energy Act 2011;

(ii) the Clean Energy (Charges--Customs) Act 2011;

(iii) the Clean Energy (Charges--Excise) Act 2011;

(iv) the Clean Energy (Unit Issue Charge--Auctions) Act

2011;

(v) the Clean Energy (Unit Issue Charge--Fixed Charge)

Act 2011;

(vi) the Clean Energy (Unit Shortfall Charge--General) Act

2011; and

(b) the amendments of the following Acts made by the Clean

Energy Legislation (Carbon Tax Repeal) Act 2014:

(i) the Fuel Tax Act 2006;

(ii) the Fuel Tax (Consequential and Transitional

Provisions) Act 2006; and

(i) the Customs Tariff Amendment (Carbon Tax Repeal)

Act 2014;

(ii) the Excise Tariff Amendment (Carbon Tax Repeal) Act

2014;

(iii) the Ozone Protection and Synthetic Greenhouse Gas

(Import Levy) Amendment (Carbon Tax Repeal) Act

2014;

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(iv) the Ozone Protection and Synthetic Greenhouse Gas

(Manufacture Levy) Amendment (Carbon Tax Repeal)

Act 2014.

carbon tax repeal transition period means the period:

(a) beginning at the start of 1 July 2014; and

(b) ending at the end of 30 June 2015.

carbon tax scheme means the scheme embodied in the following:

(a) the Clean Energy Act 2011, as in force at the start of

1 January 2014;

(b) the associated provisions (within the meaning of that Act as

in force at that time);

at the start of 1 January 2014:

(i) Division 42A;

(ii) section 43-5, so far as that section relates to a carbon

reduction;

(iii) section 43-8;

(iv) section 43-11;

(d) section 3A of the Ozone Protection and Synthetic

Greenhouse Gas (Import Levy) Act 1995, as in force at the

start of 1 January 2014, so far as that section relates to carbon

charge component;

(e) section 4A of the Ozone Protection and Synthetic

Greenhouse Gas (Import Levy) Act 1995, as in force at the

start of 1 January 2014, so far as that section relates to carbon

charge component;

(f) section 3A of the Ozone Protection and Synthetic

Greenhouse Gas (Manufacture Levy) Act 1995, as in force at

the start of 1 January 2014, so far as that section relates to

carbon charge component;

(g) sections 6FA, 6FB and 6FC of the Excise Tariff Act 1921, as

in force at the start of 1 January 2014;

(h) section 19A of the Customs Tariff Act 1995, as in force at the

start of 1 January 2014.

engages in price exploitation in relation to the carbon tax repeal:

see section 60C.

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infringement notice means an infringement notice issued under

subsection 60L(1).

infringement notice compliance period: see section 60P.

infringement notice provision means section 60C or 60K.

listed corporation has the meaning given by section 9 of the

Corporations Act 2001.

natural gas has the same meaning as in the National Gas

(Commonwealth) Law (as defined by the Australian Energy

Market Act 2004).

price, in relation to a supply, includes:

(a) a charge of any description for the supply; and

(b) any pecuniary or other benefit, whether direct or indirect,

received or to be received by a person for or in connection

with the supply.

regulated goods: see section 60B.

regulated supply means a supply that:

(a) occurs during the carbon tax repeal transition period; and

(b) is of regulated goods.

SGG equipment has the same meaning as in the Ozone Protection

and Synthetic Greenhouse Gas Management Act 1989.

synthetic greenhouse gas has the same meaning as in the Ozone

Protection and Synthetic Greenhouse Gas Management Act 1989.

60B Regulated goods

(1) For the purposes of this Part, regulated goods means:

(a) natural gas; or

(b) electricity; or

(d) SGG equipment; or

(e) other goods of a kind specified in a legislative instrument

under subsection (2).

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(2) The Minister may, by legislative instrument, specify one or more

kinds of goods for the purposes of paragraph (1)(e).

Division 2--Price exploitation in relation to the carbon tax

repeal

60C Price exploitation in relation to the carbon tax repeal

(1) A corporation must not engage in price exploitation in relation to

the carbon tax repeal.

(2) For the purposes of this Part, a corporation engages in price

exploitation in relation to the carbon tax repeal if, and only if:

(a) it makes a regulated supply; and

(b) the price for the supply is unreasonably high, having regard

alone to the carbon tax repeal; and

following other matters are also taken into account:

(i) the supplier's costs;

(ii) supply and demand conditions;

(iii) any other relevant matter.

60D Notice to corporation that is considered to have engaged in

price exploitation in relation to the carbon tax repeal

(1) The Commission may give a corporation a written notice under this

section if the Commission considers that the corporation has

engaged in price exploitation in relation to the carbon tax repeal.

(2) The notice must:

(a) be expressed to be given under this section; and

(b) identify:

(i) the corporation that made the supply; and

(ii) the kind of supply made; and

(iii) the circumstances in which the supply was made; and

(i) the price for the supply was unreasonably high as

mentioned in paragraph 60C(2)(b); and

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(ii) that unreasonably high price was not attributable to

matters referred to in paragraph 60C(2)(c).

(3) In any proceedings:

(a) under section 76 for a pecuniary penalty order relating to

section 60C; or

(b) under section 80 for an injunction relating to section 60C; or

to section 60C;

the notice is prima facie evidence that:

(d) the price for the supply was unreasonably high as mentioned

in paragraph 60C(2)(b); and

(e) that unreasonably high price was not attributable to matters

referred to in paragraph 60C(2)(c).

(4) The Commission may vary or revoke the notice on its own

initiative or on application made by the corporation. The

Commission must give the corporation written notice of the

variation or revocation.

(5) A notice under this section is not a legislative instrument.

60E Commission may issue notice to aid prevention of price

exploitation in relation to the carbon tax repeal

(1) The Commission may give a corporation a written notice under this

section if the Commission considers that doing so will aid the

prevention of the corporation engaging in price exploitation in

relation to the carbon tax repeal.

(2) The notice must:

(a) be expressed to be given under this section; and

(b) be expressed to relate to any supply that the corporation

makes that is:

(i) of a kind specified in the notice; and

(ii) made in circumstances specified in the notice; and

(iii) made during the period specified in the notice (which

must not be a period ending after the end of the carbon

tax repeal transition period); and

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opinion, may be charged for a supply to which the notice is

expressed to relate.

(3) The Commission may, on its own initiative or on application made

by the corporation:

(a) vary the notice to:

(i) change the period specified as required by

subparagraph (2)(b)(iii); or

(ii) change the price specified in the notice as required by

paragraph (2)(c); or

(b) revoke the notice.

The Commission must give the corporation written notice of the

variation or revocation.

(4) The Commission may publish the notice, or particulars of any

variation or revocation of the notice, in such manner as the

Commission considers appropriate.

(5) A notice under this section is not a legislative instrument.

60F Acquisition of property

Scope

(1) This section applies to the following provisions of this Act:

(a) section 60C;

(b) any other provision to the extent to which it relates to

section 60C.

Effect of provision

(2) The provision has no effect to the extent (if any) to which its

operation would result in the acquisition of property (within the

meaning of paragraph 51(xxxi) of the Constitution) otherwise than

on just terms (within the meaning of that paragraph).

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Division 3--Price monitoring in relation to the carbon tax

repeal etc.

60G Commission may monitor prices in relation to the carbon tax

repeal etc.

Price monitoring--carbon tax repeal transition period

(1) The Commission may monitor prices to assess the general effect of

the carbon tax repeal on prices charged by corporations for

supplies, in the carbon tax repeal transition period, of relevant

goods.

Note:

For relevant goods, see subsection (11).

(2) The Commission may monitor prices to assess the general effect of

the carbon tax repeal on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the carbon tax repeal transition period, of relevant

goods by corporations.

Note:

For relevant goods, see subsection (11).

(3) The Commission may monitor prices to assess the general effect of

the carbon tax repeal on prices charged for supplies, in the carbon

tax repeal transition period, of goods by a corporation for which

there is an entry in the Information Database (within the meaning

of the Clean Energy Act 2011).

(4) The Commission may monitor prices to assess the general effect of

the carbon tax repeal on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the carbon tax repeal transition period, of goods by

a corporation for which there is an entry in the Information

Database (within the meaning of the Clean Energy Act 2011).

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Price monitoring--price exploitation

(5) The Commission may monitor prices to assist the Commission's

consideration of whether a corporation has engaged, is engaging,

or may in the future engage, in price exploitation in relation to the

carbon tax repeal.

Price monitoring--pre-repeal transition period

(6) The Commission may monitor prices to assess the general effect of

the carbon tax scheme on prices charged by corporations for

supplies, in the pre-repeal transition period, of relevant goods.

Note 1:

For pre-repeal transition period, see subsection (13).

Note 2:

For relevant goods, see subsection (11).

(7) The Commission may monitor prices to assess the general effect of

the carbon tax scheme on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the pre-repeal transition period, of relevant goods

by corporations.

Note 1:

For pre-repeal transition period, see subsection (13).

Note 2:

For relevant goods, see subsection (11).

(8) The Commission may monitor prices to assess the general effect of

the carbon tax scheme on prices charged for supplies, in the

pre-repeal transition period, of goods by a corporation for which

there is an entry in the Information Database (within the meaning

of the Clean Energy Act 2011).

Note:

For pre-repeal transition period, see subsection (13).

(9) The Commission may monitor prices to assess the general effect of

the carbon tax scheme on prices:

(a) advertised; or

(b) displayed; or

for supplies, in the pre-repeal transition period, of goods by a

corporation for which there is an entry in the Information Database

(within the meaning of the Clean Energy Act 2011).

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Note:

For pre-repeal transition period, see subsection (13).

Section does not limit Part VIIA

(10) This section does not limit Part VIIA (which is about prices

surveillance).

Relevant goods

(11) For the purposes of this section, the following are relevant goods:

(a) regulated goods;

(b) other goods of a kind specified in a legislative instrument

under subsection (12).

(12) The Minister may, by legislative instrument, specify one or more

kinds of goods for the purposes of paragraph (11)(b).

Pre-repeal transition period

(13) For the purposes of this section, pre-repeal transition period

means the period:

(a) beginning at the commencement of this section; and

(b) ending at the end of 30 June 2014.

60H Information-gathering powers

(1) A member of the Commission may, by written notice given to a

person, require the person:

(a) to give the Commission specified information in writing

signed by:

(i) the person; or

(ii) if the person is a body corporate--a competent officer

of the body corporate; or

(b) to produce to the Commission specified documents;

if:

relates to prices or the setting of prices; and

(d) the member reasonably believes that the information, or

information contained in the documents, will or may be

useful to the Commission in monitoring prices as mentioned

in any of subsections 60G(1) to (9).

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Note:

Sections 137.1 and 137.2 of the Criminal Code create offences for

providing false or misleading information or documents.

(2) Information or documents that may be required under

subsection (1) may relate to prices, or the setting of prices:

(a) before or after the carbon tax repeal; and

(b) before or after the start of the carbon tax repeal transition

period; and

(3) Subsection (2) does not limit subsection (1).

(4) A person commits an offence if:

(a) the person is subject to a requirement under subsection (1);

and

(b) the person is capable of complying with the requirement; and

(d) the omission breaches the requirement.

Penalty: 20 penalty units.

(5) An individual is excused from giving information or producing a

document in accordance with a requirement under subsection (1)

on the ground that the information or the production of the

document might tend to incriminate the individual or expose the

individual to a penalty.

Section does not limit section 155

(6) This section does not limit section 155 (which is about the general

information-gathering powers of the Commission).

60J Reporting

(1) The Commission must, within 28 days after the end of each

quarter, give the Minister a written report about the operations of

the Commission under this Part during the quarter.

(2) A report under subsection (1) must include particulars of:

(a) all notices given under section 60E during the quarter; and

(b) all variations or revocations during the quarter of notices

given under section 60E.

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(3) Subsection (2) does not limit subsection (1).

(4) For the purposes of this section, a quarter is a period of 3 months:

(a) that occurs wholly or partly during the carbon tax repeal

transition period; and

(b) that starts on any of the following days in a year:

(i) 1 January;

(ii) 1 April;

(iii) 1 July;

(iv) 1 October.

(5) As soon as practicable after the Minister receives a report under

subsection (1), the Minister must make the report public by such

means as the Minister considers appropriate.

(6) If this section commences during a quarter (but not on the first day

of a quarter):

(a) no report is to be made at the end of the quarter; but

(b) the report made at the end of the next quarter is also to

include the information required by subsections (1) and (2) in

relation to the previous quarter.

Division 4--False or misleading representations about the

effect of the carbon tax repeal etc. on prices

60K False or misleading representations about the effect of the

carbon tax repeal etc. on prices

A corporation must not, in trade or commerce, in connection with:

(a) the supply or possible supply of goods or services; or

(b) the promotion by any means of the supply or use of goods or

services;

make a false or misleading representation, during the carbon tax

repeal transition period, concerning the effect of:

(d) the carbon tax scheme or a part of the carbon tax scheme;

on the price for the supply of the goods or services.

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Division 5--Infringement notices

60L Issuing an infringement notice

Issuing an infringement notice

(1) If the Commission has reasonable grounds to believe that a person

has contravened an infringement notice provision, the Commission

may issue an infringement notice to the person.

(2) The Commission must not issue more than one infringement notice

to the person for the same alleged contravention of the

infringement notice provision.

(3) The infringement notice does not have any effect if the notice:

(a) is issued more than 12 months after the day on which the

contravention of the infringement notice provision is alleged

to have occurred; or

(b) relates to more than one alleged contravention of an

infringement notice provision by the person.

Matters to be included in an infringement notice

(4) An infringement notice must:

(a) be identified by a unique number; and

(b) state the day on which it is issued; and

and

(d) identify the Commission; and

(e) state how the Commission may be contacted; and

(f) give details of the alleged contravention by the person,

including:

(i) the date of the alleged contravention; and

(ii) the particular infringement notice provision that was

allegedly contravened; and

(g) state the maximum pecuniary penalty that the court could

order the person to pay under section 76 for the alleged

contravention; and

(h) specify the penalty that is payable in relation to the alleged

contravention; and

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(i) state that the penalty is payable within the infringement

notice compliance period for the notice; and

(j) state that the penalty is payable to the Commission on behalf

of the Commonwealth; and

(k) explain how payment of the penalty is to be made; and

(l) explain the effect of sections 60M, 60N, 60P and 60Q.

Amount of penalty

(5) The penalty to be specified in an infringement notice that is to be

issued to a person in relation to an alleged contravention of an

infringement notice provision must be:

(a) if the person is a listed corporation--600 penalty units; or

(b) if the person is a body corporate other than a listed

corporation--60 penalty units; or

60M Effect of compliance with an infringement notice

Scope

(1) This section applies if:

(a) an infringement notice for an alleged contravention of an

infringement notice provision is issued to a person; and

(b) the person pays the penalty specified in the infringement

notice within the infringement notice compliance period and

in accordance with the notice; and

Effect

(2) The person is not, merely because of the payment, regarded as:

(a) having contravened the infringement notice provision; or

(b) having been convicted of an offence constituted by the same

conduct that constituted the alleged contravention of the

infringement notice provision.

(3) No proceedings (whether criminal or civil) may be started or

continued against the person, by or on behalf of the

Commonwealth, in relation to:

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(a) the alleged contravention of the infringement notice

provision; or

(b) an offence constituted by the same conduct that constituted

the alleged contravention.

60N Effect of failure to comply with an infringement notice

If:

(a) an infringement notice for an alleged contravention of an

infringement notice provision is issued to a person; and

(b) the person fails to pay the penalty specified in the

infringement notice within the infringement notice

compliance period and in accordance with the notice; and

the person is liable to proceedings under Part VI in relation to the

alleged contravention of the infringement notice provision.

60P Infringement notice compliance period for infringement notice

(1) The infringement notice compliance period for an infringement

notice is the period of 28 days beginning on the day after the day

on which the infringement notice is issued by the Commission.

(2) Subsection (1) has effect subject to subsection (7).

(3) The Commission may extend, by notice in writing, the

infringement notice compliance period for the notice if the

Commission is satisfied that it is appropriate to do so.

(4) Only one extension may be given, and the extension must not be

for longer than 28 days.

(5) Notice of the extension must be given to the person who was

issued the infringement notice.

(6) A failure to comply with subsection (5) does not affect the validity

of the extension.

(7) If the Commission extends the infringement notice compliance

period for an infringement notice, a reference in this Division to

the infringement notice compliance period for an infringement

notice is taken to be a reference to the infringement notice

compliance period as so extended.

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60Q Withdrawal of an infringement notice

Representations to the Commission

(1) A person to whom an infringement notice has been issued for an

alleged contravention of an infringement notice provision may

make written representations to the Commission seeking the

withdrawal of the infringement notice.

(2) Evidence or information that the person, or a representative of the

person, gives to the Commission in the course of making

representations under subsection (1) is not admissible in evidence

against the person or representative in any proceedings (other than

proceedings for an offence based on the evidence or information

given being false or misleading).

Withdrawal by the Commission

(3) The Commission may, by written notice (the withdrawal notice)

given to the person to whom an infringement notice was issued,

withdraw the infringement notice if the Commission is satisfied

that it is appropriate to do so.

(4) Subsection (3) applies whether or not the person has made

representations seeking the withdrawal.

Content of withdrawal notices

(5) The withdrawal notice must state:

(a) the name and address of the person; and

(b) the day on which the infringement notice was issued to the

person; and

(d) that proceedings under Part VI may be started or continued

against the person in relation to:

(i) the alleged contravention the infringement notice

provision; or

(ii) an offence constituted by the same conduct that

constituted the alleged contravention.

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Time limit for giving withdrawal notices

(6) To be effective, the withdrawal notice must be given to the person

within the infringement notice compliance period for the

infringement notice.

Refunds

(7) If the infringement notice is withdrawn after the person has paid

the penalty specified in the infringement notice, the Commission

must, on behalf of the Commonwealth, refund to the person an

amount equal to the amount paid.

Note:

For appropriation, see section 28 of the Financial Management and

Accountability Act 1997.

60R Effect of this Division

This Division does not:

(a) require an infringement notice to be issued to a person for an

alleged contravention of an infringement notice provision; or

(b) affect the liability of a person to proceedings under Part VI in

relation to an alleged contravention of an infringement notice

provision if:

(i) an infringement notice is not issued to the person for the

alleged contravention; or

(ii) an infringement notice issued to a person for the alleged

contravention is withdrawn under section 60Q; or

penalty specified in the infringement notice if the person does

not comply with the notice.

4 Subsection 75B(1)

After "section", insert "60C, 60K or".

5 After subparagraph 76(1)(a)(i)

Insert:

(ii) section 60C;

(iia) section 60K;

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6 After paragraph 76(1A)(b)

Insert:

(ba) for each act or omission to which this section applies that

relates to section 60C or 60K--6,471 penalty units; and

7 Before paragraph 76(1B)(a)

Insert:

(aa) for each act or omission to which this section applies that

relates to section 60C or 60K--1,295 penalty units; and

8 Paragraph 77A(3) (at the end of the definition of civil

liability)

Add "or Part V".

9 Paragraph 80(1)(a)

Repeal the paragraph, substitute:

(a) a contravention of any of the following provisions:

(i) a provision of Part IV;

(ii) a provision of Division 2 or 5 of Part IVB;

(iii) section 60C;

(iv) section 60K; or

10 At the end of subsection 80(1A)

Add ", 60C or 60K".

11 After section 80

Insert:

80A Price exploitation in relation to the carbon tax repeal--orders

limiting prices or requiring refunds of money

(1) If, on the application of the Commission, the Court is satisfied that

a person has engaged in conduct constituting a contravention of

section 60C, the Court may make either or both of the following

orders:

(a) an order requiring that person, or a person involved in the

contravention, not to make a regulated supply of a kind

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specified in the order for a price in excess of the price

specified in the order while the order remains in force;

(b) an order requiring that person, or a person involved in the

contravention, to refund money to a person specified in the

order.

Note:

Section 60C is about price exploitation in relation to the carbon tax

repeal.

(2) This section does not limit section 80.

(3) In this section:

price has the same meaning as in Part V.

regulated supply has the same meaning as in Part V.

12 Subsection 82(1)

After "IVB", insert ", or of section 60C or 60K,".

13 Section 83

After "IVB", insert ", or of section 60C or 60K,".

14 Paragraphs 84(1)(b) and (3)(b)

After "IVB", insert "or V".

15 After paragraph 85(a)

Insert:

(aa) engaged in conduct in contravention of section 60C or 60K;

16 Paragraph 86C(2)(a)

Before "a", insert "except in the case of contravening conduct that

relates to section 60C or 60K--".

17 Paragraph 86C(2)(b)

Before "a probation", insert "except in the case of contravening conduct

that relates to section 60C or 60K--".

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18 Subsection 86C(4) (paragraph (a) of the definition of

contravening conduct)

After "section", insert "60C, 60K or".

19 Subsection 87(1)

After "IVB", insert ", or of section 60C or 60K,".

20 Paragraph 87(1A)(a)

After "IVB", insert "or section 60C or 60K".

21 Paragraph 87(1A)(b)

Omit "45E) or Division 2 of Part IVB", substitute "45E), Division 2 of

Part IVB or section 60C or 60K".

22 Paragraph 87(1B)(a)

Omit "45E) or Division 2 of Part IVB", substitute "45E), Division 2 of

Part IVB or section 60C or 60K".

23 Subsection 87(1C)

Omit "or Division 2 of Part IVB", substitute ", Division 2 of Part IVB

or section 60C or 60K".

24 Subsection 155AAA(21) (paragraph (a) of the definition of

core statutory provision)

After "Part IV,", insert "V,".

25 Subsection 155AAA(21) (after paragraph (b) of the

definition of protected information)

Insert:

(ba) information that was obtained by the Commission under

section 60H; or

26 Before subparagraph 163A(1)(a)(ii)

Insert:

(i) Part V;

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Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Schedule 3

--Repeal of tax offset for

conservation tillage

Clean Energy (Consequential Amendments) Act 2011

1 Subsection 2(1) (table item 6)

Repeal the item.

2 Part 3 of Schedule 2

Repeal the Part.

Income Tax Assessment Act 1997

3 Section 67-23 (table item 24)

Repeal the item.

4 Subdivision 385-J

Repeal the Subdivision.

5 Subsection 995-1(1) (definition of eligible no-till seeder)

Repeal the definition.

6 Application of amendments

The amendments made by this Schedule apply to assessments for the

2014-15 income year and later income years.

Note:

The provisions of the Income Tax Assessment Act 1997 repealed by this Schedule will

continue to apply to assessments for the 2012-13 and 2013-14 income years.

7 Transitional

--timing relating to 2013-14 income year

The following provisions of the Income Tax Assessment Act 1997:

(a) subparagraph 385-175(1)(e)(ii);

(b) subparagraph 385-190(1)(c)(ii);

apply for the purposes of assessments for the 2013-14 income year as if

those provisions referred to 30 June 2014 rather than 30 June 2015.

Schedule 4 Repeal of the Steel Transformation Plan Act 2011

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

No. , 2014

Schedule 4

--Repeal of the Steel

Transformation Plan Act 2011

Steel Transformation Plan Act 2011

1 The whole of the Act

Repeal the Act.

Note:

On the repeal of the Act, the Steel Transformation Plan 2012 (which was made under

Part 3 of the Act) will also cease to have effect.

2 Effect of repeal

(1)

To avoid doubt:

(a) no assistance is payable under the old Act or the old Plan

after the commencement of this Schedule, including in

respect of the half-year ending on 30 June 2014; and

(b) a return is not required to be (and cannot be) provided under

Part 4 of the old Plan in respect of the half-year ending on

30 June 2014 (or any later half-year); and

commencement of this Schedule:

(i) conditions to which payments of competitiveness

assistance advances under the old Act were subject;

(ii) conditions to which registrations of corporations under

the old Plan as STP participants were subject; and

(d) the Department's annual report for the financial year ending

on 30 June 2014 (or any later financial year) is not required

to comply with section 26 of the old Act.

(2)

In this item:

old Act means the Steel Transformation Plan Act 2011.

old Plan means the Steel Transformation Plan 2012 made under Part 3

of the old Act.

Australian Renewable Energy Agency's finances Schedule 5

No. , 2014

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

Schedule 5

--Australian Renewable Energy

Agency's finances

Australian Renewable Energy Agency Act 2011

1 Subsection 64(1) (table)

Repeal the table, substitute:

Yearly maximum payments to ARENA

Item

Financial year

Amount for financial year

2013-2014

$581,276,000.00

2014-2015

$194,340,000.00

2015-2016

$89,991,000.00

2016-2017

$56,950,000.00

2017-2018

$499,893,000.00

2018-2019

$237,000,000.00

2019-2020

$468,340,000.00

2020-2021

$135,000,000.00

2021-2022

$135,000,000.00

2 Subsections 64(3) to (6)

Repeal the subsections.

3 Subsection 65(4) (note)

Omit "subsections 64(2) to (6)", substitute "subsection 64(2)".

4 Application

To avoid doubt:

(a) the amendments made by this Part do not affect how the

Australian Renewable Energy Agency Act 2011 applied,

before the commencement of this Part, in relation to the

financial year 2012-2013; but

(b) for the purposes of that Act as amended by this Part,

subsection 64(2) of that Act does not apply so as to carry

Commonwealth of Australia Bills

CLEAN ENERGY LEGISLATION (CARBON TAX REPEAL) BILL 2014