Surrendering or removing an interest
97U Surrendering or removing an interest
On lodgement of an instrument surrendering a carbon abatement interest to which a lot is subject, the registrar may register the surrender to the extent shown in the instrument of surrender.
On registration of the instrument of surrender the interest is surrendered to the extent shown in the document.
Also, the registrar may remove a carbon abatement interest from the indefeasible title of a lot if—
a request to remove the carbon abatement interest is lodged, and the request establishes that—
the period of time for which the carbon abatement interest was intended to exist has ended; or
an event upon which the carbon sequestration was intended to end has happened; or
the registrar receives a request to remove the interest under an Act of the Commonwealth.
This Act’s bill:Explanatory memorandum
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