New Vehicle Efficiency Standard Act 2024

A person may apply for the Secretary to issue a specified number of units to the person under this section.

The application must:

be in writing; and

meet the requirements (if any) prescribed by the rules; and

be accompanied by the fee (if any) prescribed by the rules.

A fee prescribed for the purposes of paragraph (2)(c) must not be such as to amount to taxation.

If a person makes an application under subsection (1), the Secretary may issue one or more units to the person if:

there is a covered vehicle for the person for a year beginning on or after 1 January 2025; and

the person has a registry account; and

at a time after the interim reconciliation day for the year either or both of the following subparagraphs apply:

the number of grams of carbon dioxide emissions that are entered (in grams of carbon dioxide per kilometre) on the RAV in relation to the vehicle (the adjusted emissions number) is different from the emissions number for the vehicle for the year;

the number of kilograms in the MIRO (mass in running order) that is entered on the RAV in relation to the vehicle (the adjusted MIRO number) is different from the MIRO number for the vehicle for the year; and

the person’s interim emissions value for the year would be lower if it were worked out using:

if only subparagraph (c)(i) applies—the adjusted emissions number; or

if only subparagraph (c)(ii) applies—the adjusted MIRO number; or

if both subparagraphs (c)(i) and (ii) apply—the adjusted emissions number and the adjusted MIRO number.

The number of units issued to the person must not exceed the difference between:

the person’s interim emissions value for the year; and

the number that is equal to what the person’s interim emissions value for the year would be if it were worked out using:

if only subparagraph (4)(c)(i) applies—the adjusted emissions number; or

if only subparagraph (4)(c)(ii) applies—the adjusted MIRO number; or

if both subparagraphs (4)(c)(i) and (ii) apply—the adjusted emissions number and the adjusted MIRO number.

If the Secretary decides:

to not issue units to the person; or

to issue fewer units to the person than the number of units specified in the application;