CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 104 Transfer of carbon units
CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 104
Transfer of carbon units(1) For the purposes of this Act, if there is an entry for a carbon unit in a Registry account (the first Registry account ) kept by a person (the first person ):
(a) a transfer of the unit from the first Registry account to a Registry account kept by another person consists of:
(i) the removal of the entry for the unit from the first Registry account; and
(ii) the making of an entry for the unit in the Registry account kept by the other person; and
(b) the transfer of the unit from the first Registry account to another Registry account kept by the first person consists of:
(i) the removal of the entry for the unit from the first Registry account; and
(ii) the making of an entry for the unit in the other Registry account kept by the first person; and
(c) the transfer of the unit from the first Registry account to a foreign account kept by another person consists of:
(i) the removal of the entry for the unit from the first Registry account; and
(ii) the making of an entry for the unit in the foreign account kept by the other person; and
(d) the transfer of the unit from the first Registry account to a foreign account kept by the first person consists of:
(i) the removal of the entry for the unit from the first Registry account; and
(ii) the making of an entry for the unit in the foreign account kept by the first person.
(2) For the purposes of this Act, if there is an entry for a carbon unit in a foreign account, a transfer of the unit from the foreign account to a Registry account consists of:
(a) the removal of the entry for the unit from the foreign account; and
(b) the making of an entry for the unit in the Registry account.