Commonwealth Numbered Acts Commonwealth Numbered Acts(1) If a person (the first person ) is the registered holder of one or more non-Kyoto international emissions units, the person may, by electronic notice transmitted to the Administrator, instruct the Administrator to transfer the units from the relevant Registry account kept by the person (the first Registry account ) to:
(a) a foreign account kept by another person; or
(b) a foreign account kept by the first person.
(2) An instruction under subsection (1) must set out:
(a) the account number of the relevant Registry account kept by the first person; and
(b) such other information as is specified in the regulations.
Compliance with instruction
(3) If:
(a) the Administrator receives an instruction under subsection (1); and
(b) the conditions (if any) specified in the regulations are satisfied;
the Administrator must take such steps as are required by the regulations.
(4) Regulations made for the purposes of subsection (3) may require the Administrator to remove the entry for the unit or units from the relevant Registry account.
(5) Subsection (4) does not limit subsection (3).
(6) If the Administrator takes steps under subsection (3) in relation to an instruction, the Registry must set out a record of the instruction.
(7) If the first person is the Commonwealth, the Minister may give an instruction under subsection (1) on behalf of the first person.