CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 102 Carbon units--total number

CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 102

             (1)  The Regulator must ensure that the sum of:

                     (a)  the total number of carbon units with a particular vintage year that are offered at auctions conducted by the Regulator; and

                     (b)  the total number of free carbon units with that vintage year issued in accordance with the Jobs and Competitiveness Program; and

                     (c)  the total number of free carbon units with that vintage year issued in accordance with Part 8 (coal-fired electricity generation);

equals the carbon pollution cap number for that vintage year.

             (2)  If a carbon unit is offered at auction on 2 or more occasions, the unit is only counted for the purposes of paragraph (1)(a) on the first of those occasions.

             (3)  Paragraph (1)(a) does not apply to an auction conducted under section 112.