Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may prescribe identification procedures that must be carried out by the Regulator before the Regulator opens a Registry account in the name of the person.
(2) The regulations may declare that a specified number is a transaction limit for the purposes of this section.
(3) The regulations may make provision for identifying Registry accounts that are subject to a transaction limit.
(4) An identification procedure prescribed under regulations made for the purposes of subsection (1):
(a) may be expressed to apply to Registry accounts that are subject to a transaction limit; or
(b) may be expressed to apply to Registry accounts that are not subject to a transaction limit.
(5) The regulations may provide that, if a Registry account is subject to a particular transaction limit, the Regulator must not:
(a) issue to the account any:
(i) Australian carbon credit units; or
(ii) safeguard mechanism credit units; or
(b) comply with an instruction to transfer units to the account;
if doing so would result in the account having entries for a number of units
that exceeds the transaction limit.