•   This Act sets up a scheme for the issue of Australian carbon credit units in relation to eligible offsets projects.

•   Australian carbon credit units and certain other types of units may be purchased by the Commonwealth.

•   An Australian carbon credit unit is personal property and is generally transferable.

•   The main eligibility requirements for eligible offsets projects are as follows:

  (a)   the project must be carried out in Australia;

  (b)   the project must be covered by a methodology determination made under this Act.

•   A methodology determination is made having regard to the offsets integrity standards set out in this Act.

•   This Act is administered by the Clean Energy Regulator.