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INCOME TAX ASSESSMENT ACT 1997 - SECT 420.12 Meaning of hold a registered emissions unit

INCOME TAX ASSESSMENT ACT 1997 - SECT 420.12

Meaning of hold a registered emissions unit

  (1)   You hold a * registered emissions unit if you are the entity in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for the unit.

  (2)   However, if the entity (the nominee entity ) in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for a * registered emissions unit holds the unit as nominee for another entity:

  (a)   the other entity is taken to hold the unit; and

  (b)   the nominee entity is taken not to hold the unit.

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