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

Schedule 1   Repeal of the carbon tax

Part 4   Jobs and Competitiveness Program

Division 4   True-up shortfalls

354   Over-allocation of free carbon units

For the purposes of this Part, if:

(a) free carbon units with a vintage year beginning on 1 July 2013 are or were issued to a person in accordance with the Jobs and Competitiveness Program; and

(b) the conditions specified in the rules are satisfied;

then:

(c) the person has an over-allocation of free carbon units ; and

(d) the number of units in that over-allocation is equal to the number ascertained in accordance with the rules.