Australian National Registry of Emissions Units Amendment Regulation 2012 (No. 3)1

Select Legislative Instrument 2012 No. 288

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Australian National Registry of Emissions Units Act 2011.

Dated 6 December 2012

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

GREG COMBET

Minister for Climate Change and Energy Efficiency

1 Name of regulation

  This regulation is the Australian National Registry of Emissions Units Amendment Regulation 2012 (No. 3).

2 Commencement

  This regulation commences on the day after it is registered.

3 Amendment of Australian National Registry of Emissions Units Regulations 2011

  Schedule 1 amends the Australian National Registry of Emissions Units Regulations 2011.

Schedule 1 Amendments

(section 3)

[1] Subregulation 10 (4)

omit

subregulation (2)

insert

subregulation (3)

[2] Paragraph 24 (f)

after

credit

insert

unit

[3] After subregulation 28 (3)

insert

Cancellation or transfer of units

[4] Subregulation 28 (4), heading

omit

[5] Paragraph 31 (1) (a)

omit

subregulation (9) (2)

insert

subregulation 9 (2)

[6] Subregulation 31 (4)

after

authorised representative’s identity

insert

or that the authorised representative meets the fit and proper person criteria

[7] After subregulation 31 (4), including the note

insert

 (5) If the Regulator:

 (a) has given an authorised representative access to a Registry account under subregulation (2); and

 (b) is no longer satisfied that the authorised representative meets the fit and proper person criteria;

the Regulator may deny the authorised representative access to the Registry account.

 (6) If the Regulator denies an authorised representative access to a Registry account, the Regulator must, as soon as practicable:

 (a) notify the relevant registered holder that access has been denied under subregulation (5), giving reasons for the denial; and

 (b) require the holder to nominate another authorised representative.

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.