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PROTECTION OF THE ENVIRONMENT OPERATIONS AMENDMENT (TRADEABLE EMISSION SCHEMES FUND) BILL 2002

                       New South Wales




Protection of the Environment
Operations Amendment (Tradeable
Emission Schemes Fund) Bill 2002


Contents
                                                                   Page

         1 Name of Act                                               2
         2 Commencement                                              2
         3 Amendment of Protection of the Environment Operations
           Act 1997 No 156                                           2
  Schedule 1 Amendments                                              3
 
 
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE ASSEMBLY, has
finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of NEW
SOUTH WALES.

                                              Clerk of the Legislative Assembly.
                                              Legislative Assembly,
                                              Sydney,                       , 2002




                               New South Wales


Protection of the Environment
Operations Amendment (Tradeable
Emission Schemes Fund) Bill 2002
Act No     , 2002



An Act to amend the Protection of the Environment Operations Act 1997 with
respect to payments into and out of the Tradeable Emission Schemes Fund.




I have examined this Bill, and find it to correspond in all respects with the Bill as
finally passed by both Houses.


                            Chairman of Committees of the Legislative Assembly.
 
 
Clause 1         Protection of the Environment Operations Amendment (Tradeable
                 Emission Schemes Fund) Bill 2002




The Legislature of New South Wales enacts:

   1     Name of Act
             This Act is the Protection of the Environment Operations Amendment
             (Tradeable Emission Schemes Fund) Act 2002.

   2     Commencement
             This Act commences on a day or days to be appointed by
             proclamation.

   3     Amendment of Protection of the Environment Operations Act 1997
         No 156
             The Protection of the Environment Operations Act 1997 is amended
             as set out in Schedule 1.




Page 2
 
 
Protection of the Environment Operations Amendment (Tradeable
Emission Schemes Fund) Bill 2002

Amendments                                                           Schedule 1




Schedule 1           Amendments
                                                                         (Section 3)


 [1]   Section 295I Tradeable Emission Schemes Fund

       Insert after section 295I (3) (a):
                     (a1)   the proceeds of any auction or other sale of permits or
                            credits, or any entitlement conferred by them, under a
                            tradeable emission scheme, and

 [2]   Section 295I (4A)

       Insert after section 295I (4):
             (4A) There may be paid out of the Fund to the Consolidated Fund
                  any amount in the Fund that, in the opinion of the EPA, is in
                  excess of the amounts required to meet the costs referred to in
                  subsection (4).




                                                                            Page 3

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