s 22XND
In forceSafeguard mechanism credit units held in Commonwealth Registry accounts
Part 3HEmissions reduction safeguard mechanism
Division 4ASafeguard mechanism credit units
Subdivision AIssuing safeguard mechanism credit units
22XND Safeguard mechanism credit units held in Commonwealth Registry accounts
(1)
Without limiting subsection 22XNA(2), the safeguard rules may provide for:
(a)
the transfer, in specified circumstances, of safeguard mechanism credit units held in a Commonwealth Registry account because of subsection 22XNB(1) to another person’s Registry account; or
(b)
the cancellation, in specified circumstances, of such units.
(2)
If safeguard mechanism credit units held in a Commonwealth Registry account are cancelled in accordance with safeguard rules made for the purposes of paragraph (1)(b), the Regulator must remove the entries for those units from that account.
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