CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 100 Issue of carbon units for a fixed charge
CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 100
Issue of carbon units for a fixed chargeApplication
(1) During the issue period set out in an item in the following table, a person may apply to the Regulator for the issue to the person of a specified number of carbon units:
(a) with a vintage year set out in the item; and
(b) for the per unit charge set out in the item;
so long as:
(c) the person is a liable entity for the vintage year; and
(d) the person has a Registry account.
Issue of carbon units for a fixed charge |
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Item |
Issue period |
Charge per unit |
|
1 |
The period: (a) beginning at the start of 1 April 2013; and (b) ending at the end of 15 June 2013. |
the eligible financial year beginning on 1 July 2012 |
$23 |
2 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2012; and (b) ending at the end of 1 February 2014. |
the eligible financial year beginning on 1 July 2012 |
$23 |
3 |
The period: (a) beginning at the start of 1 April 2014; and (b) ending at the end of 15 June 2014. |
the eligible financial year beginning on 1 July 2013 |
$24.15 |
4 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2013; and (b) ending at the end of 1 February 2015. |
the eligible financial year beginning on 1 July 2013 |
$24.15 |
5 |
The period: (a) beginning at the start of 1 April 2015; and (b) ending at the end of 15 June 2015. |
the eligible financial year beginning on 1 July 2014 |
$25.40 |
6 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2014; and (b) ending at the end of 1 February 2016. |
the eligible financial year beginning on 1 July 2014 |
$25.40 |
7 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2015; and (b) ending at the end of 1 February 2017. |
the eligible financial year beginning on 1 July 2015 |
the amount prescribed by the regulations for the purposes of this table item |
8 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2016; and (b) ending at the end of 1 February 2018. |
the eligible financial year beginning on 1 July 2016 |
the amount obtained by multiplying the per unit charge applicable under item 7 by 1.07625 |
9 |
The period: (a) beginning at the emissions number publication time of the person for the eligible financial year beginning on 1 July 2017; and (b) ending at the end of 1 February 2019. |
the eligible financial year beginning on 1 July 2017 |
the amount obtained by multiplying the per unit charge applicable under item 8 by 1.07625 |
Note: For emissions number publication time , see section 5.
(2) A person is not entitled to make an application during an issue period set out in item 7, 8 or 9 of the table in subsection (1) if no regulations are in force for the purposes of item 7 of the table.
Maximum number of units--table items 1, 3 and 5
(3) An application made during an issue period set out in item 1, 3 or 5 of the table in subsection (1) must not specify a number of carbon units that exceeds the number worked out using the following formula:
Maximum number of units--table items 2, 4, 6, 7, 8 and 9
(4) An application made during an issue period set out in item 2, 4, 6, 7, 8 or 9 of the table in subsection (1) must not specify a number of carbon units that exceeds the number worked out using the following formula:
Form of application
(5) An application must:
(a) be in writing; and
(b) be in a form approved, in writing, by the Regulator.
Issue of units
(6) If, during an issue period set out in an item in the table in subsection (1):
(a) a person has applied for a specified number of carbon units with a particular vintage year; and
(b) the person has tendered the total amount of charges payable for, or imposed on, the issue of the units;
the Regulator must, as soon as practicable, issue to the person that number of carbon units with that vintage year.
Automatic surrender of units
(7) If a carbon unit is issued to a person in accordance with this section:
(a) immediately after the issue of the unit, the person is taken to have surrendered the unit; and
(b) the person is taken to have done so by electronic notice transmitted to the Regulator under subsection 122(1); and
(c) the notice is taken to have:
(i) specified the unit; and
(ii) specified the vintage year of the unit as the eligible financial year to which the surrender relates; and
(iii) specified the account number of the person's Registry account in which there is an entry for the unit that is being surrendered.
(8) A carbon unit issued to a person in accordance with this section cannot be transferred or relinquished.
Publication of fixed charge
(9) Before the start of each of the following eligible financial years:
(a) the eligible financial year beginning on 1 July 2015;
(b) the eligible financial year beginning on 1 July 2016;
(c) the eligible financial year beginning on 1 July 2017;
the Regulator must publish on its website the per unit charge applicable under subsection (1) for the issue of a carbon unit with a vintage year of that eligible financial year.
Charge payable
(10) If a carbon unit is issued to a person in accordance with this section, the person is liable to pay a charge for the issue of the unit.
(11) Subsection (10) has effect only so far as it is not a law imposing taxation within the meaning of section 55 of the Constitution.
Note: See also:
(a) Part 2 of the Clean Energy (Charges--Excise) Act 2011 ; and
(b) Part 2 of the Clean Energy (Charges--Customs) Act 2011 ; and
(c) the Clean Energy (Unit Issue Charge--Fixed Charge) Act 2011 .
(12) The amount of charge payable under subsection (10) for the issue of a carbon unit is the amount equal to the per unit charge set out in the application under subsection (1) for the issue of the unit.
Recovery of charge
(13) If a carbon unit is issued in accordance with this section, an amount of charge payable for, or imposed on, the issue of the unit:
(a) is a debt due to the Commonwealth; and
(b) may be recovered by the Regulator, on behalf of the Commonwealth, by action in a court of competent jurisdiction.
Regulations
(14) The Minister must take all reasonable steps to ensure that regulations are made for the purposes of item 7 of the table in subsection (1) before 31 May 2014.
(15) Regulations must not be made for the purposes of item 7 of the table in subsection (1) on or after 1 June 2015.