Commonwealth Consolidated Acts

AUSTRALIAN NATIONAL REGISTRY OF EMISSIONS UNITS ACT 2011 - SECT 39

  (1)   The regulations may make provision for, or in relation to, giving effect to the Kyoto rules, so far as the Kyoto rules relate to:

  (a)   the transfer of a Kyoto unit from a Registry account to a foreign account; or

  (b)   the transfer of a Kyoto unit from a foreign account to a Registry account; or

  (c)   the transfer of a Kyoto unit from a Registry account to a Commonwealth Registry account; or

  (d)   the issue of a Kyoto unit; or

  (e)   the conversion of an assigned amount unit, or a removal unit, to an emission reduction unit.

  (2)   Regulations made for the purposes of subsection   (1) may:

  (a)   prevent, restrict or limit the transfer of Kyoto units from a Registry account to:

  (i)   a foreign account; or

  (ii)   a voluntary cancellation account; or

  (b)   prevent, restrict or limit the transfer of Kyoto units from a foreign account to a Registry account.

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