Eligible voluntary action by multiple holders of a greenhouse gas title (other than a cross‑boundary greenhouse gas title)
775C Eligible voluntary action by multiple holders of a greenhouse gas title (other than a cross‑boundary greenhouse gas title)
Scope
This section applies if there are 2 or more registered holders of a greenhouse gas title (other than a cross‑boundary greenhouse gas assessment permit, a cross‑boundary greenhouse gas holding lease or a cross‑boundary greenhouse gas injection licence).
Nomination
Those registered holders may, by joint written notice given to the responsible Commonwealth Minister, nominate one of them as being the person who is authorised to take eligible voluntary actions on behalf of the registered holders.
For eligible voluntary action, see section 775A.
The joint written notice must be executed in an approved manner by or on behalf of each of the registered holders.
The Titles Administrator must publish on the Titles Administrator’s website a copy of the instrument of approval referred to in subsection (3).
Eligible voluntary action to be taken by nominee
If:
the registered holders of a greenhouse gas title have nominated a person under subsection (2); and
the nomination is in force; and
the nominated person takes an eligible voluntary action; and
the eligible voluntary action is expressed to be taken on behalf of the registered holders;
this Act has effect as if the eligible voluntary action were taken by the registered holders jointly.
The registered holders are not entitled to take an eligible voluntary action except:
in accordance with subsection (4); or
by taking the action jointly.
Revocation of nomination
If:
a person has been nominated under subsection (2) in relation to a greenhouse gas title; and
one of the registered holders of the greenhouse gas title, by written notice given to the responsible Commonwealth Minister, revokes the nomination;
the nomination ceases to be in force.
If a registered holder of a greenhouse gas title revokes a nomination under subsection (6), that registered holder must give written notice of the revocation to each of the other registered holders as soon as practicable after the revocation.
Cessation of nomination—nominee ceases to be a registered holder
If:
a person has been nominated under subsection (2) in relation to a greenhouse gas title; and
the nominated person ceases to be one of the registered holders of the greenhouse gas title;
the nomination ceases to be in force.
Effect of cessation in force of nomination
If the nomination of a registered holder of a greenhouse gas title ceases to be in force under subsection (6) or (7), the cessation in force of the nomination does not affect the validity of an eligible voluntary action taken by the registered holder (or former registered holder) before the nomination ceases to be in force.
Definition
In this section:
greenhouse gas title means:
a greenhouse gas assessment permit; or
a greenhouse gas holding lease; or
a greenhouse gas injection licence; or
an infrastructure licence, where the infrastructure facility to which the licence relates is a facility, structure or installation for engaging in any of the activities to which subsection 15(3) applies; or
a pipeline licence, where the pipeline to which the licence relates is a greenhouse gas pipeline; or
a greenhouse gas search authority; or
a greenhouse gas special authority.
Sign in to see bill, explanatory material, and regulations and instruments
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.