Carbon Credits (Carbon Farming Initiative) Act 2011

The project proponent for an eligible offsets project must, in accordance with this section, give the Regulator a written report about the project for a period that:

is expressed to be a reporting period for the project; and

begins:

if the project has a single crediting period—at the start of that crediting period; or

if the project has 2 crediting periods—at the start of the first crediting period; and

is not shorter than:

6 months; or

if, under the legislative rules, a specified lesser number of months is the minimum number of months applicable to the report—that specified lesser number of months; and

if the project is a sequestration offsets project—is not longer than 5 years; and

if the project is an emissions avoidance offsets project—is not longer than 2 years.

Under section 15, the general rule is that the Regulator may only issue a certificate of entitlement to Australian carbon credit units in relation to a reporting period for an eligible offsets project if the reporting period is included in a crediting period for the project.

The project proponent for an eligible offsets project must, in accordance with this section, give the Regulator a written report about the project for a period that:

is expressed to be a reporting period for the project; and

begins immediately after the end of the previous reporting period for the project; and

is not shorter than:

6 months; or

if, under the legislative rules, a specified lesser number of months is the minimum number of months applicable to the report—that specified lesser number of months; and

if the project is a sequestration offsets project—is not longer than 5 years; and

if the project is an emissions avoidance offsets project—is not longer than 2 years; and

if the project is an emissions avoidance offsets project—is included in:

a crediting period for the project; or

the extended accounting period (if any) for the project.

Under section 15, the general rule is that the Regulator may only issue a certificate of entitlement to Australian carbon credit units in relation to a reporting period for an eligible offsets project if the reporting period is included in a crediting period for the project.

See also section 77.

A report under this section is to be known as an offsets report.

An offsets report about a project for a reporting period must:

be given in the manner and form prescribed by the legislative rules; and

set out the information specified in the legislative rules; and

if, under the legislative rules, the offsets report is subject to audit under this Act—be accompanied by an audit report that is:

prescribed by the legislative rules; and

prepared by a registered greenhouse and energy auditor who has been appointed as an audit team leader for the purpose; and

if:

under the legislative rules, a set of 2 or more offsets reports given by the project proponent is subject to audit under this Act; and

the offsets report is included in that set;

prescribed by the legislative rules; and

prepared by a registered greenhouse and energy auditor who has been appointed as an audit team leader for the purpose; and

if, before the offsets report was given to the Regulator, the Regulator gave the project proponent a written notice stating that the offsets report would be subject to audit under this Act—be accompanied by an audit report that is:

prescribed by the legislative rules; and

prepared by a registered greenhouse and energy auditor who has been appointed as an audit team leader for the purpose; and

if a notice under section 77A is relevant to the offsets report—be accompanied by a copy of that notice; and

be accompanied by such other documents (if any) as are specified in the legislative rules; and

be given to the Regulator within:

6 months after the end of the reporting period; or

if a greater number of months is specified in the applicable methodology determination for the project—that greater number of months after the end of the reporting period.

The Regulator must not give a notice under paragraph (4)(cb) unless the Regulator is satisfied that it is appropriate to do so, having regard to effective risk management.

To avoid doubt, an offsets report for a period may deal with matters that occur before the start of that period.

If, under the applicable methodology determination, the project proponent for the project is subject to a requirement to include specified information relating to the project in the offsets report, the offsets report must include that information.

If the following conditions are satisfied in relation to 2 or more eligible offsets projects:

the relevant section 27 declarations were made as a result of applications covered by a particular subsection 26(2) determination;

a particular person is the project proponent for the projects;

Information specified in legislative rules made for the purposes of paragraph (4)(b) may relate to a matter arising before, during or after the reporting period.

A document specified in legislative rules made for the purposes of paragraph (4)(d) may relate to a matter arising before, during or after the reporting period.

A person must not:

aid, abet, counsel or procure a contravention of subsection (1); or

induce, whether by threats or promises or otherwise, a contravention of subsection (1); or

be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (1); or

conspire with others to effect a contravention of subsection (1).

Subsections (1), (2) and (11) are civil penalty provisions.

Part 21 provides for pecuniary penalties for breaches of civil penalty provisions.