•   The Regulator may, on behalf of the Commonwealth, enter into contracts for the purchase by the Commonwealth of eligible carbon credit units.

•   Such a contract is to be known as a carbon abatement contract.

•   The Regulator may enter into a carbon abatement contract as the result of a carbon abatement purchasing process.

•   The Regulator may conduct carbon abatement purchasing processes on behalf of the Commonwealth. Such processes may include reverse auctions and tender processes.

•   The Regulator must have regard to certain principles and other matters when conducting a carbon abatement purchasing process.