Clean Energy Amendment (International Emissions Trading and Other Measures) Act2012 (204 of 2012)

Schedule 1  

Part 1   General amendments

Clean Energy Act 2011

59   After subsection 101(1)

Insert:

(1A) Subsection (1) does not apply to carbon units with the vintage year beginning on 1 July 2015 that are issued as a result of auctions that are conducted by the Regulator during the financial year beginning on 1 July 2013.

(1B) The Regulator must ensure that not more than 40 million carbon units with the vintage year beginning on 1 July 2015 are issued as a result of auctions that were conducted by the Regulator during the financial year beginning on 1 July 2013 ifthere are no regulations in effect that declare the carbon pollution cap, and the carbon pollution cap number, for the vintage year.