Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-50
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CLIMATE CHANGE
Division 420
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Registered emissions units
Subdivision 420-A
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Registered emissions units
SECTION 420-12
Meaning of
hold
a registered emissions unit
420-12(1)
You hold a *registered emissions unit if you are the entity in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for the unit.
420-12(2)
However, if the entity (the nominee entity ) in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for a *registered emissions unit holds the unit as nominee for another entity:
(a) the other entity is taken to hold the unit; and
(b) the nominee entity is taken not to hold the unit.
View history note
Hide history noteYou hold a *registered emissions unit if you are the entity in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for the unit.
420-12(2)
However, if the entity (the nominee entity ) in whose Registry account (within the meaning of the Australian National Registry of Emissions Units Act 2011 ) there is an entry for a *registered emissions unit holds the unit as nominee for another entity:
(a) the other entity is taken to hold the unit; and
(b) the nominee entity is taken not to hold the unit.
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