Simplified outline
174 Simplified outline
The following is a simplified outline of this Part:
• If a person is the registered holder of one or more Australian carbon credit units, the person may, by electronic notice transmitted to the Regulator, relinquish any or all of those units.
• An administrative penalty is payable for non‑compliance with a relinquishment requirement under this Act.
A person may voluntarily relinquish Australian carbon credit units in order to satisfy a condition for revocation of a section 27 declaration in relation to an offsets project.
A person may be required to relinquish Australian carbon credit units under Part 7.
This Act’s bill:Explanatory memorandumSecond reading speech
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