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.