Victorian Consolidated Legislation

Environment Protection Act 1970 - SECT 19AB

Tradeable emission scheme

19AB. Tradeable emission scheme



(1) Without limiting the generality of section 19AA, a tradeable emission
scheme is an economic measure.

(2) A tradeable emission scheme may provide for-

   (a)  the determination and amendment of aggregate limits for the
        entitlement to emit a specified quantity of waste to the environment;

   (b)  the monitoring and reporting of emission levels;

   (c)  the determination of the rights and duties of holders of tradeable
        emission permits or credits;

   (d)  the creation, cancellation or suspension of tradeable emission permits
        or credits;

   (e)  the initial sale or allocation and further sale or allocation of
        tradeable emission permits or credits;

   (f)  an electronic system for the exchange of tradeable emission permits or
        credits;

   (g)  the intervention by the Authority in the event of anti-competitive
        behaviour.

(3) Subsection (2) does not limit the matters that may be included in an
economic measure relating to a tradeable emission scheme.