Interim emissions value less than zero
39 Interim emissions value less than zero
If a person’s interim emissions value for a year beginning on or after 1 January 2025 is less than zero, the Secretary must:
issue a number of units to the person that is equal to the absolute value of the person’s interim emissions value for the year; and
do so as soon as practicable after the interim reconciliation day for the year.
If a person’s interim emissions value for a year is ‑200, the absolute value is 200 and, if the person has a registry account, they will be issued 200 units.
However, if:
the Secretary is required to issue a unit to a person under subsection (1) as soon as practicable after the interim reconciliation day for a year; and
the person does not have a registry account; and
the person does not apply under section 53, within one year after that day, for the Secretary to open an account in the Registry in the person’s name;
then, despite that requirement, the Secretary must not issue the unit to the person.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.