Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (83 of 2014)

Schedule 1   Repeal of the carbon tax

Part 3   Application and transitional provisions

Division 2   Provisions relating to the Clean Energy Act 2011 and associated charge Acts

327   Cancellation of carbon units - designated carbon unit day

Scope

(1) This item applies if there was an entry for a carbon unit in a person’s Registry account at the start of the designated carbon unit day.

Cancellation of unit

(2) The Regulator must cancel the unit.

(3) The Regulator must remove the entry for the unit from the person’s Registry account.

(4) The Registry must set out a record of each cancellation under subitem (2).