Transfer of safeguard mechanism credit units
48C Transfer of safeguard mechanism credit units
For the purposes of this Act, if there is an entry for a safeguard mechanism credit unit in a Registry account (the first Registry account) kept by a person (the first person):
a transfer of the unit from the first Registry account to a Registry account kept by another person consists of:
the removal of the entry for the unit from the first Registry account; and
the making of an entry for the unit in the Registry account kept by the other person; and
a transfer of the unit from the first Registry account to another Registry account kept by the first person consists of:
the removal of the entry for the unit from the first Registry account; and
the making of an entry for the unit in the other Registry account kept by the first person.
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