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Clean Energy Legislation (Carbon Tax Repeal) Bill 2014
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Schedule 1 Repeal of the carbon tax

Part 1 Repeal of Acts

Clean Energy Act 2011

1  The whole of the Act

Repeal the Act.

Clean Energy (Charges—Customs) Act 2011

2  The whole of the Act

Repeal the Act.

Clean Energy (Charges—Excise) Act 2011

3  The whole of the Act

Repeal the Act.

Clean Energy (Unit Issue Charge—Auctions) Act 2011

4  The whole of the Act

Repeal the Act.

Clean Energy (Unit Issue Charge—Fixed Charge) Act 2011

5  The whole of the Act

Repeal the Act.

Clean Energy (Unit Shortfall Charge—General) Act 2011

6  The whole of the Act

Repeal the Act.

Part 2 Amendments

A New Tax System (Goods and Services Tax) Act 1999

7  Section 195-1

Insert:

eligible Australian carbon credit unit means:

                     (a)  a Kyoto Australian carbon credit unit (within the meaning of the Carbon Credits (Carbon Farming Initiative) Act 2011 ); or

                     (b)  a non-Kyoto Australian carbon credit unit (within the meaning of that Act) issued in relation to an eligible offsets project (within the meaning of that Act) for a reporting period (within the meaning of that Act), where:

                              (i)  if it were assumed that the reporting period had ended before the Kyoto abatement deadline (within the meaning of that Act), a Kyoto Australian carbon credit unit would have been issued in relation to the project for the reporting period instead of the non-Kyoto Australian carbon credit unit; and

                             (ii)  the non-Kyoto Australian carbon credit unit is not of a kind specified in the regulations; or

                     (c)  an Australian carbon credit unit (within the meaning of that Act) of a kind specified in the regulations.

Subparagraph (b)(ii) and paragraph (c) do not, by implication, limit the application of subsection 13(3) of the Legislative Instruments Act 2003 to other instruments under this Act.

8  Section 195-1 (definition of eligible emissions unit )

Repeal the definition, substitute:

eligible emissions unit means:

                     (a)  an * eligible international emissions unit; or

                     (b)  an * eligible Australian carbon credit unit.

9  Section 195-1

Insert:

eligible international emissions unit has the same meaning as in the Australian National Registry of Emissions Units Act 2011 .

Anti-Money Laundering and Counter- Terrorism » Financing Act 2006

10  Section 5 (definition of carbon unit )

Repeal the definition.

11  Subsection 6(2) (paragraph (baa) of the cell at table item 33, column headed “Provision of a designated service”)

Repeal the paragraph.

12  Subsection 6(2) (paragraph (d) of the cell at table item 33, column headed “Provision of a designated service”)

Omit “carbon units,”.

Australian National Registry of Emissions Units Act 2011

13  Section 3

Omit:

•      Entries may be made in Registry accounts for:

               (a)     carbon units; and

              (b)     Australian carbon credit units; and

               (c)     Kyoto units; and

              (d)     prescribed international units.

•      This Act sets out rules about dealings with:

               (a)     Kyoto units; and

              (b)     prescribed international units.

substitute:

•      Entries may be made in Registry accounts for:

               (a)     Australian carbon credit units; and

              (b)     Kyoto units.

•      This Act sets out rules about dealings with Kyoto units.

14  Section 4 (definition of Australian-issued international unit )

Repeal the definition.

15  Section 4 (definition of benchmark average auction charge )

Repeal the definition.

16  Section 4 (definition of carbon unit )

Repeal the definition.

17  Section 4 (definition of Commonwealth foreign registry account )

Repeal the definition.

18  Section 4 (paragraph (d) of the definition of eligible international emissions unit )

Omit “rules; or”, substitute “rules.”.

19  Section 4 (paragraph (e) of the definition of eligible international emissions unit )

Repeal the paragraph.

20  Section 4 (definition of European allowance unit )

Repeal the definition.

21  Section 4 (definition of European Union Greenhouse Gas Emission Allowance Trading Directive )

Repeal the definition.

22  Section 4 (definition of fixed charge year )

Repeal the definition.

23  Section 4 (definition of foreign account )

Repeal the definition, substitute:

foreign account , when used in relation to a Kyoto unit, means an account kept within a foreign Kyoto registry.

24  Section 4 (definition of foreign government body )

Repeal the definition.

25  Section 4 (definition of hold )

Omit “a carbon unit or”.

26  Section 4 (definition of Information Database )

Repeal the definition.

27  Section 4 (definition of international arrangement )

Repeal the definition.

28  Section 4 (definition of international organisation )

Repeal the definition.

29  Section 4 (definition of issue )

Repeal the definition, substitute:

issue , in relation to an Australian carbon credit unit, has the same meaning as in the Carbon Credits (Carbon Farming Initiative) Act 2011 .

30  Section 4 (definition of prescribed international unit )

Repeal the definition.

31  Section 4 (definition of quarter )

Repeal the definition.

32  Section 4 (paragraph (aa) of the definition of registered holder )

Repeal the paragraph.

33  Section 4 (paragraph (b) of the definition of registered holder )

Omit “unit; or”, substitute “unit.”.

34  Section 4 (paragraph (c) of the definition of registered holder )

Repeal the paragraph.

35  Section 4 (definition of relinquish )

Repeal the definition.

36  Section 4 (definition of transfer )

Repeal the definition, substitute:

transfer , in relation to a Kyoto unit, has the meaning given by section 33.

37  Section 4 (definition of vintage year )

Repeal the definition.

38  Paragraph 9(4)(a)

Omit “carbon units, Australian carbon credit units and prescribed international units”, substitute “Australian carbon credit units”.

39  Paragraph 11(5)(a)

Omit “carbon units or”.

40  Section 14A

Repeal the section.

41  Paragraph 15(2)(aa)

Repeal the paragraph.

42  Paragraph 15(2)(c)

Omit “account; and”, substitute “account.”.

43  Paragraph 15(2)(d)

Repeal the paragraph.

44  Subparagraph 16(2)(b)(ii)

Omit “(4), (5) and (6)”, substitute “(4) and (6)”.

45  Subsection 16(2A)

Repeal the subsection (not including the heading).

46  Subsection 16(5)

Repeal the subsection.

47  Paragraph 16(7)(b)

Omit “or (5)”.

48  Subsection 17(1A)

Repeal the subsection.

49  Subsection 17(3)

Repeal the subsection.

50  Paragraph 19(3A)(a)

Omit “or 49A”.

51  Subsection 19(3B)

Repeal the subsection.

52  Section 21

Repeal the section.

53  Paragraph 22(4A)(a)

Omit “or 49A”.

54  Subsection 22(4B)

Repeal the subsection.

55  Subparagraph 26(3)(a)(ia)

Repeal the subparagraph.

56  Subparagraph 26(3)(a)(ii)

Omit “or”.

57  Subparagraph 26(3)(a)(iii)

Repeal the subparagraph.

58  Paragraph 27(3B)(b)

Omit “account; or”, substitute “account.”.

59  Paragraph 27(3B)(c)

Repeal the paragraph.

60  Paragraph 28A(1)(aa)

Repeal the paragraph.

61  Paragraph 28A(1)(b)

Omit “or”.

62  Paragraph 28A(1)(c)

Repeal the paragraph.

63  Paragraph 28A(4)(aa)

Repeal the paragraph.

64  Paragraph 28B(1)(aa)

Repeal the paragraph.

65  Paragraph 28B(1)(b)

Omit “or”.

66  Paragraph 28B(1)(c)

Repeal the paragraph.

67  Paragraph 28B(11)(aa)

Repeal the paragraph.

68  Subsection 28B(11) (paragraph (c) of the note)

Omit “Act; and”, substitute “Act.”.

69  Subsection 28B(11) (paragraphs (d) and (e) of the note)

Repeal the paragraphs.

70  Paragraph 28C(17)(aa)

Repeal the paragraph.

71  Subparagraph 28D(5)(a)(ii)

Omit “carbon units or”.

72  Paragraph 28D(5)(b)

Repeal the paragraph, substitute:

                     (b)  a notice to relinquish Australian carbon credit units under section 175 of the Carbon Credits (Carbon Farming Initiative) Act 2011 does not have effect.

73  Paragraph 28D(16)(aa)

Repeal the paragraph.

74  Part 4

Repeal the Part.

75  Section 58

Omit:

•      The Regulator must publish certain information about:

               (a)     the holders of Registry accounts; and

              (b)     carbon units; and

               (c)     Kyoto units; and

              (d)     prescribed international units.

substitute:

•      The Regulator must publish certain information about:

               (a)     the holders of Registry accounts; and

              (b)     Kyoto units.

76  Section 59A

Repeal the section.

77  Subsections 61(3) to (6)

Repeal the subsections.

78  Section 61A

Repeal the section.

79  Sections 63 to 63G

Repeal the sections.

80  Section 64

Omit:

•      If a person is the registered holder of one or more carbon units, the person may request the Regulator to cancel any or all of those units. However, this rule does not apply to a unit that was issued for a fixed charge and has a vintage year that is a fixed charge year.

81  Section 64

Omit:

•      If a person is the registered holder of one or more prescribed international units, the person may request the Regulator to cancel any or all of those units.

82  Section 64A

Repeal the section.

83  Section 66

Repeal the section.

84  Parts 6A and 6B

Repeal the Parts.

85  Paragraph 79(1)(c)

Omit “27(4);”, substitute “27(4).”.

86  Paragraph 79(1)(d)

Repeal the paragraph.

87  Section 82 (table item 2)

Omit “or 53”.

88  Section 82 (table item 3)

Repeal the item.

89  Section 82 (table items 8 and 9)

Omit “or 21”.

90  Section 82 (table items 15 and 16)

Repeal the items.

91  Section 86A

Repeal the section.

Australian Securities and Investments Commission Act 2001

92  Paragraph 12BAA(7)(ka)

Repeal the paragraph.

93  Paragraph 12BAB(1)(g)

Omit “a carbon unit,”.

94  At the end of the Act

Add:

Part 20 Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014

   

295   Definition

                   In this Part:

designated carbon unit day has the same meaning as in Part 3 of Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 .

296   Transitional—carbon units issued before the designated carbon unit day

                   Despite the amendments of this Act made by Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 , this Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

Clean Energy Regulator Act 2011

95  Section 3

Omit:

•      The Regulator has such functions as are conferred on it by or under:

               (a)     the Clean Energy Act 2011 ; and

              (b)     the Carbon Credits (Carbon Farming Initiative) Act 2011 ; and

               (c)     the National Greenhouse and Energy Reporting Act 2007 ; and

              (d)     the Renewable Energy (Electricity) Act 2000 ; and

               (e)     the Australian National Registry of Emissions Units Act 2011 .

substitute:

•      The Regulator has such functions as are conferred on it by or under:

               (a)     the Carbon Credits (Carbon Farming Initiative) Act 2011 ; and

              (b)     the National Greenhouse and Energy Reporting Act 2007 ; and

               (c)     the Renewable Energy (Electricity) Act 2000 ; and

              (d)     the Australian National Registry of Emissions Units Act 2011 .

96  Section 4

Insert:

Climate Change Convention means the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as amended and in force for Australia from time to time.

Note:          The text of the Convention is set out in Australian Treaty Series 1994 No. 2 ([1994] ATS 2). In 2013, the text of a Convention in the Australian Treaty Series was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au).

97  Section 4 (paragraphs (b) to (h) of the definition of climate change law )

Repeal the paragraphs.

98  Section 4

Insert:

greenhouse gas has the same meaning as in the National Greenhouse and Energy Reporting Act 2007 .

99  Section 4 (definition of international agreement )

Repeal the definition, substitute:

international agreement means an agreement whose parties are:

                     (a)  Australia and a foreign country; or

                     (b)  Australia and 2 or more foreign countries.

100  Section 4 (definition of international climate change agreement )

Repeal the definition, substitute:

international climate change agreement means:

                     (a)  the Climate Change Convention; or

                     (b)  any other international agreement, signed on behalf of Australia, that:

                              (i)  relates to climate change; and

                             (ii)  imposes obligations on Australia to take action to reduce greenhouse gas emissions; or

                     (c)  an international agreement, signed on behalf of Australia, that:

                              (i)  relates to climate change; and

                             (ii)  is specified in a legislative instrument made by the Minister for the purposes of this definition.

101  Section 4 (paragraph (a) of the definition of objectives of the Regulator )

Repeal the paragraph.

102  Section 4 (definition of prescribed international unit )

Repeal the definition.

103  Paragraph 41(3)(a)

Repeal the paragraph.

104  Paragraph 49(1)(z)

Repeal the paragraph, substitute:

                     (z)  a person or body responsible for the administration of a scheme that involves the issue or registration of prescribed eligible carbon units;

Corporations Act 2001

105  Section 9 (definition of carbon unit )

Repeal the definition.

106  Paragraph 764A(1)(kaa)

Repeal the paragraph.

107  At the end Chapter 10

Add:

Part 10.23 Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014

   

1542   Definition

                   In this Part:

designated carbon unit day has the same meaning as in Part 3 of Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 .

1543   Transitional—carbon units issued before the designated carbon unit day

                   Despite the amendments of this Act made by Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 , this Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

1544   Transitional—variation of conditions on Australian financial services licences

Scope

             (1)  This section applies if, as at the end of the designated carbon unit day, an Australian financial services licence is subject to a condition that authorises the financial services licensee to provide financial services in relation to financial products that are carbon units.

Variation

             (2)  After that day, subsections 914A(3), (4) and (5) do not apply in relation to a variation of the condition, if the only effect of the variation is to remove the authorisation to provide financial services in relation to financial products that are carbon units.

1545   Transitional—immediate cancellation of Australian financial services licences

                   Section 915B applies, on and after the designated carbon unit day, as if the following subsection was added at the end of the section:

Licence relating to carbon units

             (5)  ASIC may cancel an Australian financial services licence held by a person, by giving written notice to the person, if the licence only authorises the person to provide financial services that relate to financial products that are carbon units.

1546   Transitional—statements of reasons for cancellation of Australian financial services licences

                   Section 915G does not apply to a cancellation under subsection 915B(5) (as inserted by section 1545).

Fuel Tax Act 2006

108  Section 2-1

Omit:

                   This Act provides a single system of fuel tax credits. Fuel tax credits are paid to reduce the incidence of fuel tax levied on taxable fuels, ensuring that, generally, fuel tax is effectively only applied to:

                     (a)  fuel used in private vehicles and for certain other private purposes; and

                     (b)  fuel used on-road in light vehicles for business purposes.

                   For fuel that is not * covered by the Opt-in Scheme, the fuel tax credit entitlement is (with some exceptions) reduced by an amount equivalent to what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price). For fuel that is covered by that Scheme, the entitlement is not so reduced.

                   Fuel tax credits are also provided for fuel for use in aircraft if the fuel is covered by the Opt-in Scheme. The amount of the credit is limited to the carbon component rate that was factored into the rate of fuel tax.

                   Fuel tax credits are also provided for gaseous fuel that is subject to the carbon pricing mechanism if the fuel is for use in agriculture, fishing operations or forestry. The amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel.

substitute:

                   This Act provides a single system of fuel tax credits. Fuel tax credits are paid to reduce or remove the incidence of fuel tax levied on taxable fuels, ensuring that, generally, fuel tax is effectively only applied to:

                     (a)  fuel used in private vehicles and for certain other private purposes; and

                     (b)  fuel used on-road in light vehicles for business purposes.

109  Subsection 40-5(2)

After “reduce”, insert “or remove”.

110  Subsections 40-5(3) and (4)

Repeal the subsections.

111  Section 41-1

Omit:

However, fuel tax credits are denied under Subdivision 41-B if:

               (a)     another person is already entitled to a fuel tax credit in respect of the fuel; or

              (b)     the fuel is for use on-road in light vehicles; or

               (c)     the fuel is for use in vehicles that do not meet certain environmental criteria; or

              (d)     the fuel is for use in aircraft, and is not covered by the Opt-in Scheme.

substitute:

However, fuel tax credits are denied under Subdivision 41-B if:

               (a)     another person is already entitled to a fuel tax credit in respect of the fuel; or

              (b)     the fuel is for use on-road in light vehicles; or

               (c)     the fuel is for use in vehicles that do not meet certain environmental criteria; or

              (d)     the fuel is for use in aircraft.

112  Paragraph 41-5(3)(b)

Omit “vehicle, vessel or aircraft”, substitute “vehicle (or vessel)”.

113  Subsection 41-15(1)

Omit “this Division, Division 42 or Division 42A” (wherever occurring), substitute “this Division or Division 42”.

114  Subparagraph 41-25(2)(a)(ii)

Omit “ * agricultural property”, substitute “agricultural property”.

115  Section 41-30 (heading)

Repeal the heading, substitute:

41-30   No fuel tax credit for fuel to be used in an aircraft

116  Subsection 41-30(1)

Omit “(1)”.

117  Subsection 41-30(2)

Repeal the subsection.

118  Section 41-35

Repeal the section.

119  Division 42A

Repeal the Division.

120  Section 43-1

Omit:

The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel:

               (a)     reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel); and

              (b)     for fuel that is not covered by the Opt-in Scheme—reduced (with some exceptions) to take account of what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price).

For fuel for use in aircraft that is covered by the Opt-in Scheme, the amount of the credit is reduced so that it is limited to the carbon component rate that was factored into the rate of fuel tax.

For gaseous fuel that is subject to the carbon pricing mechanism, the amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel.

substitute:

The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel, reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel).

121  Subsection 43-5(1)

Repeal the subsection, substitute:

             (1)  The * amount of your tax fuel credit for taxable fuel is the amount of * effective fuel tax that is payable on the fuel.

Note:          The amount of the credit may be reduced under section 43-10.

122  Subsections 43-5(4) and (5)

Repeal the subsections.

123  Section 43-8

Repeal the section.

124  Section 43-10 (heading)

Repeal the heading, substitute:

43-10   Reducing the amount of your fuel tax credit

125  Subsection 43-10(1A)

Repeal the subsection.

126  Section 43-11

Repeal the section.

127  Subdivision 43-B

Repeal the Subdivision.

128  Section 110-5 (definition of agricultural activity )

Repeal the definition.

129  Section 110-5 (definition of agricultural construction activity )

Repeal the definition.

130  Section 110-5 (definition of agricultural property )

Repeal the definition.

131  Section 110-5 (definition of agricultural soil/water activity )

Repeal the definition.

132  Section 110-5 (definition of agricultural waste activity )

Repeal the definition.

133  Section 110-5 (definition of agriculture )

Repeal the definition.

134  Section 110-5 (definition of approved catchment area )

Repeal the definition.

135  Section 110-5 (definition of carbon reduction)

Repeal the definition.

136  Section 110-5 (definition of CNG )

Repeal the definition.

137  Section 110-5 (definition of core agricultural activity )

Repeal the definition.

138  Section 110-5 (definition of covered by the Opt-in Scheme )

Repeal the definition.

139  Section 110-5 (definition of earthworks )

Repeal the definition.

140  Section 110-5 (definition of fish )

Repeal the definition.

141  Section 110-5 (definition of fishing operations )

Repeal the definition.

142  Section 110-5 (definition of forestry )

Repeal the definition.

143  Section 110-5 (definition of half-year )

Repeal the definition.

144  Section 110-5 (definition of horticulture )

Repeal the definition.

145  Section 110-5 (definition of livestock )

Repeal the definition.

146  Section 110-5 (definition of livestock activity )

Repeal the definition.

147  Section 110-5 (definition of LNG )

Repeal the definition.

148  Section 110-5 (definition of pearling operations )

Repeal the definition.

149  Section 110-5 (definition of port )

Repeal the definition.

150  Section 110-5 (definition of processing of fish )

Repeal the definition.

151  Section 110-5 (definition of public authority )

Repeal the definition.

152  Section 110-5 (definition of renewable diesel )

Repeal the definition.

153  Section 110-5 (definition of sundry agricultural activity )

Repeal the definition.

154  Section 110-5 (definition of taxable fuel )

Repeal the definition, substitute:

taxable fuel means fuel in respect of which duty is payable under:

                     (a)  the Excise Act 1901 and the Excise Tariff Act 1921 ; or

                     (b)  the Customs Act 1901 and the Customs Tariff Act 1995 ;

but does not include fuel covered by:

                     (c)  item 15, 20 or 21 of the Schedule to the Excise Tariff Act 1921 ; or

                     (d)  any imported goods that would be classified to item 15 of the Schedule to the Excise Tariff Act 1921 , if the goods had been manufactured in Australia.

Note:          Item 15 of the Schedule to the Excise Tariff Act 1921 deals with certain petroleum based oils and greases. Item 20 of that Schedule deals with certain stabilised crude petroleum oils. Item 21 of that Schedule deals with certain condensate.

Fuel Tax (Consequential and Transitional Provisions) Act 2006

155  Subitem 12(2A) of Schedule 3

Repeal the subitem.

Income Tax Assessment Act 1997

156  Section 12-5 (table item headed “clean energy”)

Repeal the item.

157  Section 26-18

Repeal the section.

158  Section 104-5 (table item relating to CGT event K1, column headed “Event number and description”)

Omit “ * carbon unit, an * international emissions unit”, substitute “ * Kyoto unit”.

159  Subparagraphs 104-205(1)(a)(i) and (ii)

Repeal the subparagraphs.

160  Subparagraph 104-205(1)(a)(iii)

Omit “an * international emissions unit”, substitute “a * Kyoto unit”.

161  Subparagraph 104-205(1)(a)(iv)

Omit “an * international emissions unit”, substitute “a Kyoto unit”.

162  Section 112-97 (table item 18A, column headed “In this situation”)

Omit “an * international emissions unit”, substitute “a * Kyoto unit”.

163  Subsection 118-15(2)

Repeal the subsection.

164  Paragraph 420-10(a)

Repeal the paragraph.

165  Paragraph 420-10(c)

Repeal the paragraph.

166  Subsection 420-15(1) (note)

Repeal the note.

167  Subsection 420-15(3)

Repeal the subsection.

168  Subsection 420-20(3)

Repeal the subsection (not including the note), substitute:

             (3)  This section does not apply to the issue of an * Australian carbon credit unit under the Carbon Credits (Carbon Farming Initiative) Act 2011 .

169  Subparagraphs 420-21(1)(a)(i) and (ii)

Repeal the subparagraphs.

170  Subparagraph 420-21(1)(a)(iii)

Omit “an * international emissions unit”, substitute “a * Kyoto unit”.

171  Subparagraph 420-21(1)(a)(iv)

Omit “an international emissions unit”, substitute “a Kyoto unit”.

172  Subsection 420-21(1) (example)

Omit “of international emissions unit”, substitute “of Kyoto unit”.

173  Subparagraphs 420-21(2)(a)(i) and (ii)

Repeal the subparagraphs.

174  Subparagraph 420-21(2)(a)(iii)

Omit “an * international emissions unit”, substitute “a * Kyoto unit”.

175  Subparagraph 420-21(2)(a)(iv)

Omit “an international emissions unit”, substitute “a Kyoto unit”.

176  Subparagraph 420-35(b)(i)

Repeal the subparagraph.

177  Subparagraph 420-35(b)(ii)

Omit “an * international emissions unit”, substitute “a * Kyoto unit”.

178  Section 420-35 (example)

Omit “of international emissions unit”, substitute “of Kyoto unit”.

179  Section 420-43

Repeal the section.

180  Subsection 420-51(1)

Omit “(1)”.

181  Subsection 420-51(2)

Repeal the subsection.

182  Subparagraph 420-52(a)(i)

Repeal the subparagraph.

183  Paragraph 420-52(b)

Repeal the paragraph.

184  Subsection 420-55(6)

Repeal the subsection.

185  Subsection 420-57(9)

Repeal the subsection.

186  Section 420-58

Repeal the section.

187  Subsections 420-60(1) and (2)

Repeal the subsections.

188  Subsection 420-60(4)

Omit all the words from and including “If a * registered” to and including “ cost of the unit”, substitute “The cost of a * registered emissions unit (other than an * Australian carbon credit unit)”.

189  Subsection 420-65(3)

Repeal the subsection.

190  Subsection 420-70(3)

Repeal the subsection.

191  Subsection 995-1(1) (definition of carbon unit )

Repeal the definition.

192  Subsection 995-1(1) (definition of free carbon unit )

Repeal the definition.

193  Subsection 995-1(1) (definition of international emissions unit )

Repeal the definition.

194  Subsection 995-1(1) (definition of prescribed international unit )

Repeal the definition.

195  Subsection 995-1(1) (definition of vintage year )

Repeal the definition.

National Greenhouse and Energy Reporting Act 2007

196  Section 3 (heading)

Repeal the heading, substitute:

3   Object

197  Subsection 3(1)

Omit “(1) The first object”, substitute “The object”.

198  Subsection 3(2)

Repeal the subsection.

199  Subsection 4(1)

Omit “(1) This Act (except to the extent to which it underpins the Clean Energy Act 2011 )”, substitute “This Act”.

200  Subsection 4(2)

Repeal the subsection.

201  Subsection 5(1)

Omit “(1)”.

202  Before subparagraph 5(1)(a)(ii)

Insert:

                              (i)  greenhouse gas emissions; or

203  Subsection 5(2)

Repeal the subsection.

204  Section 7 (definition of carbon dioxide equivalence )

Repeal the definition, substitute:

carbon dioxide equivalence , of an amount of greenhouse gas, means the amount of the gas multiplied by a value specified in the regulations in relation to that kind of greenhouse gas.

205  Section 7

Insert:

designated financial year means:

                     (a)  the financial year beginning on 1 July 2012; or

                     (b)  a later financial year.

206  Section 7 (definition of designated fuel )

Repeal the definition.

207  Section 7 (definition of eligible financial year )

Repeal the definition.

208  Section 7 (definition of emissions number )

Repeal the definition.

209  Section 7 (definition of financial control liability transfer certificate )

Repeal the definition.

210  Section 7 (definition of fixed charge year )

Repeal the definition.

211  Section 7 (definition of foreign country )

Repeal the definition, substitute:

foreign country includes a region where:

                     (a)  the region is a colony, territory or protectorate of a foreign country; or

                     (b)  the region is part of a foreign country; or

                     (c)  the region is under the protection of a foreign country; or

                     (d)  a foreign country exercises jurisdiction or control over the region; or

                     (e)  a foreign country is responsible for the region’s international relations.

212  Section 7

Insert:

foreign corporation means a corporation that:

                     (a)  is incorporated outside Australia; or

                     (b)  is an authority of a foreign country.

213  Section 7 (definition of foreign person )

Repeal the definition.

214  Section 7

Insert:

group entity means a corporation that is a member of a controlling corporation’s group.

215  Section 7 (definition of interim emissions number )

Repeal the definition.

216  Section 7 (definition of liable entity )

Repeal the definition.

217  Section 7 (definition of liquefied natural gas )

Repeal the definition.

218  Section 7 (definition of liquefied petroleum gas )

Repeal the definition.

218A  Section 7 (definition of local governing body )

Repeal the definition.

219  Section 7 (definition of natural gas supplier )

Repeal the definition.

220  Section 7 (definition of non-group entity )

Repeal the definition.

221  Section 7 (definition of operational control )

Omit “11A, 11B or 11C”, substitute “11A or 11B”.

222  Section 7 (definition of Opt-in Scheme )

Repeal the definition.

223  Section 7 (definition of OTN )

Repeal the definition.

224  Section 7 (definition of person )

Repeal the definition.

225  Section 7 (definition of potential greenhouse gas emissions )

Repeal the definition.

226  Section 7 (definition of provisional emissions number )

Repeal the definition.

227  Section 7 (definition of supply )

Repeal the definition.

228  Section 7 (definition of taxable fuel )

Repeal the definition.

229  Section 7 (definition of trust )

Repeal the definition.

230  Section 7 (definition of trustee )

Repeal the definition.

231  Section 7 (definition of trust estate )

Repeal the definition.

232  Section 7 (definition of unit shortfall charge )

Repeal the definition.

233  Subsection 7A(1)

Omit “and the Clean Energy Act 2011 ”.

234  Sections 7B and 7C

Repeal the sections.

235  Subsection 8(1)

Omit “and the Clean Energy Act 2011 ”.

236  Subsection 9(1)

Omit “and the Clean Energy Act 2011 ”.

237  Paragraph 9(1)(b)

Omit “or 54A”.

238  Section 10 (heading)

Repeal the heading, substitute:

10   Emissions, energy production, energy consumption etc.

239  Subsection 10(1)

Omit “or the Clean Energy Act 2011 ”.

240  Subsection 10(3)

Omit “and the Clean Energy Act 2011 ”.

241  Subsections 10(4) to (9)

Repeal the subsections.

242  Subsection 11(1)

Omit “and the Clean Energy Act 2011 ”.

243  Subsection 11(1)

Omit “person” (wherever occurring), substitute “group entity”.

244  Paragraph 11(1)(b)

Omit “or 55A”.

245  Subsection 11(3)

Omit “and the Clean Energy Act 2011 ”.

246  Subsection 11(3)

Omit “person”, substitute “group entity”.

247  Subsection 11(4)

Omit “11A, 11B and 11C”, substitute “11A and 11B”.

248  Section 11A (heading)

Repeal the heading, substitute:

11A   Operational control—group entity with greatest authority

249  Subsection 11A(1)

Omit “an eligible financial year”, substitute “a designated financial year”.

250  Paragraph 11A(1)(a)

Omit “persons”, substitute “group entities”.

251  Paragraph 11A(1)(b)

Omit “person”, substitute “group entity”.

252  Paragraph 11A(1)(c)

Omit “or 55A”.

253  Subsection 11A(2)

Omit “person”, substitute “group entity”.

254  Subsection 11A(2)

Omit “and the Clean Energy Act 2011 ”.

255  Section 11B (heading)

Repeal the heading, substitute:

11B   Operational control—nominated group entity

256  Paragraph 11B(1)(a)

Omit “more persons”, substitute “more group entities”.

257  Paragraph 11B(1)(a)

Omit “ relevant persons ”, substitute “ relevant group entities ”.

258  Paragraph 11B(1)(b)

Omit “person”, substitute “group entity”.

259  Paragraph 11B(1)(c)

Omit “or 55A”.

260  Paragraph 11B(1)(d)

Omit “an eligible financial year”, substitute “a designated financial year”.

261  Subsection 11B(2)

Omit “persons”, substitute “group entities”.

262  Subsection 11B(2)

Omit “person”, substitute “group entity”.

263  Paragraph 11B(4)(a)

Omit “persons is a foreign person”, substitute “group entities is a foreign corporation”.

264  Paragraph 11B(4)(b)

Omit “persons is not a foreign person”, substitute “group entities is not a foreign corporation”.

265  Subsection 11B(4)

Omit “foreign person cannot”, substitute “foreign corporation cannot”.

266  Paragraph 11B(5)(b)

Omit “persons”, substitute “group entities”.

267  Subsection 11B(7)

Repeal the subsection.

268  Subsection 11B(8)

Omit “eligible financial year” (wherever occurring), substitute “designated financial year”.

269  Subsection 11B(10)

Omit “person” (wherever occurring), substitute “group entity”.

270  Paragraph 11B(15)(b)

Omit “and”.

271  Paragraph 11B(15)(c)

Repeal the paragraph.

272  Subsection 11B(15)

Omit “person”, substitute “group entity”.

273  Subsection 11B(16)

Repeal the subsection.

274  Paragraph 11B(17)(b)

Omit “and”.

275  Paragraph 11B(17)(c)

Repeal the paragraph.

276  Subsection 11B(17)

Omit “persons”, substitute “group entities”.

277  Subsections 11B(18) and (19)

Repeal the subsections.

278  Subsection 11B(21)

Repeal the subsection, substitute:

Exceptions

           (21)  A group entity is not required to comply with subsection (20) if the question of who has operational control of the facility is not relevant (whether directly or indirectly) to a requirement under this Act.

279  Subsection 11B(22)

Omit “person”, substitute “group entity”.

280  Subsection 11B(22)

Omit “or 55A”.

281  Section 11C

Repeal the section.

282  Paragraph 11D(1)(c)

Repeal the paragraph.

283  Paragraphs 11D(1)(e) and (f)

Repeal the paragraphs, substitute:

                     (e)  at any time during the preceding 5 years, the person has breached a civil penalty provision of this Act; or

                      (f)  if the person is a body corporate—at any time during the preceding 5 years, an executive officer of the body corporate has breached a civil penalty provision of this Act; or

284  Paragraphs 11D(1)(i) and (j)

Repeal the paragraphs, substitute:

                      (i)  the person has been convicted of an offence against this Act; or

                      (j)  if the person is a body corporate—an executive officer of the body corporate has been convicted of an offence against this Act.

285  Subdivision A of Division 1 of Part 2 (heading)

Repeal the heading.

286  Subsections 13(2) and (3)

Omit “member of a controlling corporation’s group”, substitute “group entity”.

287  Subsection 13(4)

Repeal the subsection.

288  Subdivision B of Division 1 of Part 2

Repeal the Subdivision.

289  Division 4 of Part 2

Repeal the Division.

290  Paragraph 18B(3)(b)

Repeal the paragraph.

291  Subsection 19(1) (note 4)

Repeal the note.

292  Subsection 19(4)

Repeal the subsection.

293  Paragraphs 22(1)(a) and (b)

Omit “(other than Part 3A or 3D)”.

294  Paragraphs 22(2)(a) and (b)

Omit “(other than Part 3A or 3D)”.

295  Parts 3A and 3D

Repeal the Parts.

296  Paragraph 22X(1)(a)

Repeal the paragraph, substitute:

                     (a)  a facility is under the operational control of a member (the responsible member ) of a controlling corporation’s group during the whole or a part of a financial year; and

297  Subsection 24(1AA)

Repeal the subsection.

298  Subsection 24(1AD)

Omit “22E or”.

299  Paragraph 24(1AE)(a)

Omit “22E(2)(b) or”.

300  Subsection 24(1H)

Omit “22E or”.

301  Subsection 24(1J)

Omit “or financial control liability transfer certificate”.

302  Subsection 24(8)

Omit “22E or”.

303  Subsection 25(1)

Omit “22G, a person required to provide information under section 20, or a person required to provide a report under section 22A, 22AA, 22E or 22X”, substitute “22G or 22X, or a person required to provide information under section 20,”.

304  Subsection 30(2A)

Omit “11C, 15A, 15AA, 22A, 22AA, 22E, 22X, 74AA”, substitute “22X”.

305  Section 54A

Repeal the section.

306  Section 55A

Repeal the section.

307  Paragraphs 56(aab), (aa), (ga) and (gb)

Repeal the paragraphs.

308  Paragraph 56(j)

Omit “75A;”, substitute “75A.”

309  Paragraphs 56(k) and (l)

Repeal the paragraphs.

310  Section 74AA

Repeal the section.

311  Subsection 74B(1)

Repeal the subsection, substitute:

             (1)  For the purposes of this section, a person is a relevant person if:

                     (a)  the person is the responsible member mentioned in subsection 22X(1); and

                     (b)  the person is not a registered corporation; and

                     (c)  the Regulator has reasonable grounds to suspect that the person has contravened, is contravening, or is proposing to contravene, this Act or the regulations.

312  Subsection 74C(1)

Repeal the subsection, substitute:

             (1)  For the purposes of this section, a person is a relevant person if the person:

                     (a)  is the responsible member mentioned in subsection 22X(1); and

                     (b)  is not a registered corporation.

Ozone Protection and Synthetic Greenhouse Gas Management Act 1989

313  Paragraphs 65C(1)(aa), (ab) and (ac)

Omit “equal to the prescribed rate component of an amount of levy”.

314  Subsections 65C(4), (5) and (6)

Repeal the subsections.

315  Sections 69AA to 69AD

Repeal the sections.

Petroleum Resource Rent Tax Assessment Act 1987

316  Subparagraph 28(1)(b)(iii)

Omit “expenditure;”, substitute “expenditure.”.

317  Paragraph 28(1)(c)

Repeal the paragraph.

318  Paragraph 44(1)(ia)

Repeal the paragraph.

Taxation Administration Act 1953

319  Subsection 355-65(7) in Schedule 1 (table item 3)

Repeal the item.

Part 3 Application and transitional provisions

Division 1—Preliminary

320  Objects

(1)       The main objects of this Part are:

                     (a)  to provide for the winding-up of the carbon tax scheme; and

                     (b)  to ensure that carbon tax liabilities relating to:

                              (i)  the financial year beginning on 1 July 2012; or

                             (ii)  the financial year beginning on 1 July 2013;

                            can be administered, collected and recovered after the start of 1 July 2014; and

                     (c)  to ensure that liable entities can take steps, after the start of 1 July 2014, to avoid being liable to pay unit shortfall charge in relation to the financial year beginning on 1 July 2013; and

                     (d)  to ensure that, after the start of 1 July 2014, the Regulator can issue carbon units that are required for the financial year beginning on 1 July 2013; and

                     (e)  to continue, after the start of 1 July 2014, the carbon tax related rights and obligations of liable entities, so far as those rights and obligations relate to:

                              (i)  the financial year beginning on 1 July 2012; or

                             (ii)  the financial year beginning on 1 July 2013.

(2)       The other objects of this Part are:

                     (a)  to ensure the validity of any carbon units issued as the result of an auction conducted before 1 July 2014; and

                     (b)  to cancel any carbon units that are not required for the financial year beginning on 1 July 2013; and

                     (c)  to ensure that, while carbon units remain in existence, the units remain subject to other Commonwealth laws.

321  Definitions

In this Part:

designated carbon unit day has the meaning given by item 322.

Registry has the same meaning as in the Australian National Registry of Emissions Units Act 2011 .

Registry account has the same meaning as in the Australian National Registry of Emissions Units Act 2011 .

Regulator means the Clean Energy Regulator.

322  Designated carbon unit day

(1)       For the purposes of this Part, designated carbon unit day means:

                     (a)  9 February 2015; or

                     (b)  if a later day is specified in an instrument under subitem (2)—that later day.

(2)       The Regulator may, by legislative instrument, specify a day for the purposes of paragraph (1)(b).

(3)       The Regulator must not make an instrument under subitem (2) unless the Regulator has made a determination under subsection 142(3) of the Clean Energy Act 2011 that relates to 2 February 2015.

Note:       Subsection 142(3) of the Clean Energy Act 2011 enables the Regulator to extend the 2 February 2015 surrender deadline. See also item 345A (deadlines of 1 February and 15 June).

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

323  Winding-up of the carbon tax scheme—recovery of liabilities attributable to pre-1 July 2014 emissions etc.

(1)       Despite the repeal of the Clean Energy Act 2011 by this Schedule, that Act continues in force, subject to:

                     (a)  this Part; and

                     (b)  the modifications set out in the following table;

as if that repeal had not happened.

 

Modifications of the Clean Energy Act 2011

Item

Provision

Modification

1

section 4

Omit the section.

2

section 5 (definitions of average carbon unit auction price , benchmark average auction charge , carbon pollution cap , carbon pollution cap number , designated limit , and designated limit percentage )

Omit the definitions.

3

section 5 (definition of eligible financial year )

Omit the definition, substitute:

eligible financial year means:

(a) the financial year beginning on 1 July 2012; or

(b) the financial year beginning on 1 July 2013.

4

section 5 (definition of fixed charge year )

Omit the definition, substitute:

fixed charge year means:

(a) the financial year beginning on 1 July 2012; or

(b) the financial year beginning on 1 July 2013.

5

section 5 (definitions of flexible charge year and per-tonne carbon price equivalent )

Omit the definitions.

6

section 5 (definition of unit shortfall )

Omit “128, 129 or 133”, substitute “128 or 129”.

7

section 5 (definition of vintage year )

Omit “eligible”.

8

Part 2

Omit the Part.

9

subsections 26(2), 27(2) and 28(2)

Omit all the words after “is taken to be”, substitute “zero”.

10

Subdivision A of Division 4 of Part 3

The Regulator must not issue an OTN under the Subdivision on or after 1 July 2014.

11

sections 42 and 43

Omit the sections.

12

section 43A

The section ceases to have effect at the end of 30 June 2015.

13

subsection 45(3)

The subsection ceases to have effect at the end of 30 June 2015.

14

subsections 45(4) to (13)

The subsections cease to have effect at the start of 1 September 2014.

15

subsection 46(1)

The subsection has effect, on and after 1 September 2014, as if the words “(as it stood at a particular time before the start of 1 September 2014)” were inserted after “OTN Register”.

16

section 47

The section ceases to have effect at the start of 1 August 2014.

17

section 64B

Omit the section.

18

paragraph 64F(1)(b)

Omit the paragraph.

19

subsection 66(4)

The subsection ceases to have effect at the start of 1 August 2014.

20

section 70

The Regulator must not make a declaration under the section on or after 1 July 2014.

21

section 71A

Omit the section.

22

section 72

The Regulator must not give a notice under the section on or after 1 July 2014.

24

section 83

The Regulator must not issue a certificate under the section on or after 1 July 2014.

25

section 87

The Regulator must not issue a certificate under the section on or after 1 July 2014.

26

sections 89 and 90

Omit the sections.

27

section 93

Omit the section.

28

subsection 96(2)

Omit “eligible”.

29

section 97 (note)

Omit the note.

30

subsection 100(1) (table items 5, 6, 7, 8 and 9)

Omit the table items.

31

subsection 100(2)

Omit the subsection.

32

subsection 100(3) (heading)

Omit “ 1, 3 and 5 ”, substitute “ 1 and 3 ”.

33

subsection 100(3)

Omit “1, 3 or 5”, substitute “1 or 3”.

34

subsection 100(4) (heading)

Omit “ 2, 4, 6, 7, 8 and 9 ”, substitute “ 2 and 4 ”.

35

subsection 100(4)

Omit “2, 4, 6, 7, 8 or 9”, substitute “2 or 4”.

36

subsections 100(9), (14) and (15)

Omit the subsections.

37

sections 101 and 102

Omit the sections.

38

sections 108 and 109

Omit the sections.

39

section 114

Omit the section.

40

Division 1 of Part 6

Omit the Division.

41

subsection 122(1)

Omit “during an eligible financial year”.

42

subsections 122(3), (4), (5), (9) and (11)

Omit the subsections.

43

sections 123 and 123A

Omit the sections.

44

paragraph 128(7)(d)

Before “this Division”, insert “if the eligible financial year began on 1 July 2012—“.

45

Subdivision B of Division 3 of Part 6

Omit the Subdivision.

46

subsection 134(3)

Omit the subsection.

47

subsection 134A(3) (paragraph (b) of the definition of applicable amount for the financial year )

Omit the paragraph.

48

paragraphs 142(3)(c), (e) and (f)

Omit the paragraphs.

48A

section 144

Omit the section.

49

paragraph 145(5)(b)

Omit the paragraph.

50

paragraph 145(5)(c)

Omit the paragraph, substitute:

(c) the principle that changes should not have a negative effect on recipients of assistance under the Jobs and Competitiveness Program;

51

Division 5 of Part 7

Omit the Division.

52

section 160

Omit the section.

53

paragraphs 161(2)(b) and (c)

Omit the paragraphs.

54

subsection 161(3)

Omit the subsection.

55

subsection 161(4)

Omit “or (3)”.

56

subsection 161(5)

Omit “a later”, substitute “an”.

57

subsections 161(6), (7), (8) and (9)

Omit “or (3)”.

 

58

Part 9

The Part ceases to have effect at the end of 30 June 2015.

59

Division 3 of Part 9

Omit the Division.

60

sections 196 and 196A

Omit the sections.

61

subsections 197(3) to (6)

Omit the subsections.

62

section 199

After “each quarter”, insert “that ends on or before 31 March 2015”.

63

section 200

Omit the section.

64

subsection 212(2) (subparagraph (d)(ii) of the definition of prescribed amount for the financial year in which the compliance deadline occurs )

Omit the subparagraph.

65

subsection 212(3) (subparagraph (d)(ii) of the definition of prescribed amount for the financial year in which the compliance deadline occurs )

Omit the subparagraph.

66

Part 12

Omit the Part.

67

paragraphs 262(1)(ma), (r), (u) and (v) and 263(2)(g), (i) and (j)

Omit the paragraphs.

68

section 281 (table items 3, 4, 5, 7, 8, 11, 12, 13 and 16)

Omit the table items.

69

Part 22

Omit the Part.

70

subparagraph 295(d)(iii)

Omit the subparagraph.

71

subparagraph 295(e)(ii)

Omit the subparagraph.

72

subparagraph 295(i)(iii)

Omit the subparagraph.

73

sections 303A and 303B

Omit the sections.

Carbon units with a vintage year beginning on or after 1 July 2014

(2)       The modification made by item 3 of the table in subitem (1) does not apply in relation to the issue of a carbon unit with a vintage year beginning on or after 1 July 2014, if the carbon unit was issued as a result of an auction conducted before 1 July 2014.

Review of decisions

(3)       The modification of section 281 of the Clean Energy Act 2011 made by the table in subitem (1) does not apply to a decision made before 1 July 2014.

Civil penalty orders

(4)       The modification of section 262 of the Clean Energy Act 2011 made by the table in subitem (1) does not apply to a contravention that occurred before 1 July 2014.

324  Application—repeal of Charge Acts

Charge for issue of carbon units for a fixed charge

(1)       The repeal by this Schedule of the following Acts, so far as they relate to the issue of carbon units in accordance with section 100 of the Clean Energy Act 2011 :

                     (a)  the Clean Energy (Charges—Customs) Act 2011 ;

                     (b)  the Clean Energy (Charges—Excise) Act 2011 ;

                     (c)  the Clean Energy (Unit Issue Charge—Fixed Charge) Act 2011 ;

does not apply to the issue of carbon units with a vintage year beginning on 1 July 2012 or 1 July 2013.

Charge for issue of carbon units as a result of an auction

(2)       The repeal by this Schedule of the following Acts, so far as they relate to the issue of carbon units as a result of an auction:

                     (a)  the Clean Energy (Charges—Customs) Act 2011 ;

                     (b)  the Clean Energy (Charges—Excise) Act 2011 ;

                     (c)  the Clean Energy (Unit Issue Charge—Auctions) Act 2011 ;

does not apply to the issue of carbon units if the carbon units were issued as a result of an auction conducted before 1 July 2014.

Charge on unit shortfall

(3)       The repeal by this Schedule of the following Acts, so far as they relate to a unit shortfall for a financial year:

                     (a)  the Clean Energy (Charges—Customs) Act 2011 ;

                     (b)  the Clean Energy (Charges—Excise) Act 2011 ;

                     (c)  the Clean Energy (Unit Shortfall Charge—General) Act 2011 ;

does not apply to:

                     (d)  a unit shortfall for the financial year beginning on 1 July 2012; or

                     (e)  a unit shortfall for the financial year beginning on 1 July 2013.

325  Issue of carbon units

The Regulator must not issue any carbon units after the start of the designated carbon unit day.

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).

328  Surrender of eligible Australian carbon credit units

(1)       If:

                     (a)  subsection 128(7) of the Clean Energy Act 2011 applies to a person because the person surrendered, in relation to the financial year beginning on 1 July 2013, eligible Australian carbon credit units; and

                     (b)  under paragraph (c) of that subsection, Division 3 of Part 6 of that Act has effect as if the person had not surrendered, during the period mentioned in paragraph (a) of that subsection, a particular number of eligible Australian carbon credit units; and

                     (c)  the person has a Registry account;

then:

                     (d)  the Regulator must, by written notice given to the person, determine that specified eligible Australian carbon credit units that were surrendered by the person:

                              (i)  during that period; and

                             (ii)  in relation to the financial year beginning on 1 July 2013;

                            are restored units for the purposes of this item; and

                     (e)  a restored unit is taken never to have been surrendered or cancelled; and

                      (f)  the Regulator must make an entry for a restored unit in a Registry account kept by the person.

(2)       The number of units specified in the determination must equal the number mentioned in paragraph (1)(b).

(3)       Subitem (1) does not affect the validity of the removal of the entry of a restored unit from a Registry account in accordance with paragraph 122(12)(b) of the Clean Energy Act 2011 .

(4)       A determination under paragraph (1)(d) is not a legislative instrument.

329  Opt-in Scheme

(1)       A reference in the Opt-in Scheme to a financial year does not include a reference to a financial year beginning on or after 1 July 2014.

(2)       Regulations 3.48 and 3.50 of the Clean Energy Regulations 2011 cease to have effect at the end of 30 June 2014.

Division 3—Provisions relating to other Acts

330  Transitional— A New Tax System (Goods and Services Tax) Act 1999

Despite the amendments of the A New Tax System (Goods and Services Tax) Act 1999 made by this Schedule, that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

331  Transitional— Anti-Money Laundering and Counter- « Terrorism » Financing Act 2006

Despite the amendments of the Anti-Money Laundering and Counter- « Terrorism Financing Act 2006 made by this Schedule, that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

332  Transitional— Australian National Registry of Emissions Units Act 2011

Despite the amendments of the Australian National Registry of Emissions Units Act 2011 made by this Schedule, that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

333  Transitional— Clean Energy Regulator Act 2011

(1)       Despite the amendment of the definition of climate change law in section 4 of the Clean Energy Regulator Act 2011 made by this Schedule, that definition continues to apply, in relation to paragraph 12(a) and subsection 43(3) and section 44 of that Act, as if that amendment had not been made.

(2)       Each of the following:

                     (a)  this Act;

                     (b)  a legislative instrument under this Act;

                     (c)  the True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014 ;

                     (d)  the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act 2014 ;

is taken to be a climate change law for the purposes of paragraph 12(a) and subsection 43(3) and section 44 of the Clean Energy Regulator Act 2011 .

334  Application—amendments of the Fuel Tax Act 2006

The amendments of the Fuel Tax Act 2006 made by this Schedule apply to taxable fuel acquired, manufactured or imported on or after 1 July 2014.

335  Application—amendment of the Fuel Tax (Consequential and Transitional Provisions) Act 2006

The amendment of the Fuel Tax (Consequential and Transitional Provisions) Act 2006 made by this Act applies to taxable fuel acquired, manufactured or imported on or after 1 July 2014.

336  Application—amendments of the Income Tax Assessment Act 1997

(1)       The repeal of section 26-18 of the Income Tax Assessment Act 1997 by this Schedule does not apply to unit shortfall charge imposed on:

                     (a)  a unit shortfall for the financial year beginning on 1 July 2012; or

                     (b)  a unit shortfall for the financial year beginning on 1 July 2013.

(2)       Despite the amendments of the Income Tax Assessment Act 1997 made by this Schedule (other than the amendment of section 12-5 or the repeal of section 26-18), that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

337  Transitional— National Greenhouse and Energy Reporting Act 2007

General

(1)       Despite the amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Schedule, that Act continues to apply, in relation to the following matters:

                     (a)  determining the meaning of the following expressions, when used in the Clean Energy Act 2011 :

                              (i)  carbon dioxide equivalence;

                             (ii)  facility;

                            (iii)  greenhouse gas;

                            (iv)  group;

                             (v)  member, when used in relation to a group;

                            (vi)  non-group entity;

                           (vii)  operational control;

                          (viii)  potential greenhouse gas emissions;

                            (ix)  provisional emissions number;

                             (x)  scope 1 emission of greenhouse gas;

                     (b)  the matters mentioned in subsections 10(3) to (9) of the National Greenhouse and Energy Reporting Act 2007 , so far as those matters are relevant to the Clean Energy Act 2011 ;

                     (c)  reports under section 22A, 22AA or 22E of the National Greenhouse and Energy Reporting Act 2007 ;

                     (d)  records under section 22B, 22C or 22F of the National Greenhouse and Energy Reporting Act 2007 ;

                     (e)  applications under section 15A or 15AA of the National Greenhouse and Energy Reporting Act 2007 ;

                      (f)  the registration of persons under section 18A of the National Greenhouse and Energy Reporting Act 2007 ;

                     (g)  the publication of information under section 24 of the National Greenhouse and Energy Reporting Act 2007 , so far as the information relates to:

                              (i)  the financial year beginning on 1 July 2012; or

                             (ii)  the financial year beginning on 1 July 2013;

                     (h)  audits under section 74AA of the National Greenhouse and Energy Reporting Act 2007 ;

                      (i)  audits under section 74B or 74C of the National Greenhouse and Energy Reporting Act 2007 , so far as the audits relate to a person’s compliance with obligations under that Act (or regulations under that Act) in relation to:

                              (i)  the financial year beginning on 1 July 2012; or

                             (ii)  the financial year beginning on 1 July 2013;

as if:

                      (j)  the National Greenhouse and Energy Reporting Act 2007 were modified as set out in the following table; and

                     (k)  those amendments had not been made; and

                      (l)  subitem (6) had not been enacted.

 

Modifications of the National Greenhouse and Energy Reporting Act 2007

Item

Provision

Modification

1

section 7 (definition of eligible financial year )

Omit the definition, substitute:

eligible financial year means:

(a) the financial year beginning on 1 July 2012; or

(b) the financial year beginning on 1 July 2013.

2

section 7 (definition of fixed charge year )

Omit the definition, substitute:

fixed charge year means:

(a) the financial year beginning on 1 July 2012; or

(b) the financial year beginning on 1 July 2013.

 

Thresholds

(2)       The amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Schedule, so far as they are relevant to determining whether a controlling corporation’s group meets a threshold under section 13 of that Act for a financial year, apply in relation to a threshold for:

                     (a)  the financial year beginning on 1 July 2014; or

                     (b)  a later financial year.

Reports

(3)       The amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Schedule, so far as they relate to reports under section 19 of that Act, apply in relation to reports for:

                     (a)  the financial year beginning on 1 July 2014; or

                     (b)  a later financial year.

(4)       The amendments of the National Greenhouse and Energy Reporting Act 2007 made by this Schedule, so far as they relate to reports under section 22G or 22X of that Act, apply in relation to reports for:

                     (a)  the financial year beginning on 1 July 2014; or

                     (b)  a later financial year.

Unsatisfactory compliance record

(5)       Despite the amendments of section 11D of the National Greenhouse and Energy Reporting Act 2007 made by this Schedule, that Act continues to apply, in relation to:

                     (a)  unpaid unit shortfall charge; and

                     (b)  a breach of a civil penalty provision of:

                             (ii)  the Clean Energy Act 2011 ; or

                            (iii)  a determination under section 113 of the Clean Energy Act 2011 ; and

                     (c)  a conviction of an offence against the Clean Energy Act 2011 ;

as if those amendments had not been made.

Regulations—carbon dioxide equivalence

(6)       If, immediately before the commencement of this item, regulations were in force for the purposes of paragraph (a) of the definition of carbon dioxide equivalence in section 7 of the National Greenhouse and Energy Reporting Act 2007 , the regulations have effect, after that commencement, as if they had been made for the purposes of the definition of carbon dioxide equivalence in section 7 of that Act as amended by this Schedule.

Deregistration—section 18A registrations

(7)       If:

                     (a)  a person was registered under the National Greenhouse and Energy Reporting Act 2007 because of the operation of section 18A of that Act; and

                     (b)  the person is registered under that Act as at the start of 1 July 2014;

the Regulator must remove the person’s name from the Register.

338  Transitional— Ozone Protection and Synthetic Greenhouse Gas Management Act 1989

Amounts to be credited to the Ozone Protection and SGG Account

(1)       Despite the amendments of section 65C of the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 made by this Schedule, that section continues to apply, in relation to levy for a quarter ending before 1 July 2014, as if those amendments had not been made.

Remission or refund of levy for a quarter ending before 1 July 2014

(2)       Despite the repeal of sections 69AA to 69AD of the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 by this Schedule, those sections continue to apply, in relation to levy for a quarter ending before 1 July 2014, as if:

                     (a)  that Act provided that an application under section 69AA, 69AB or 69AC of that Act must be made before 1 January 2016; and

                     (b)  that repeal had not happened.

339  Transitional— Petroleum Resource Rent Tax Assessment Act 1987

(1)       Despite the amendments of section 28 of the Petroleum Resource Rent Tax Assessment Act 1987 made by this Schedule, that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

(2)       The repeal of paragraph 44(1)(ia) of the Petroleum Resource Rent Tax Assessment Act 1987 by this Schedule does not apply to unit shortfall charge imposed on:

                     (a)  a unit shortfall for the financial year beginning on 1 July 2012; or

                     (b)  a unit shortfall for the financial year beginning on 1 July 2013.

340  Transitional— Taxation Administration Act 1953

Despite the amendment of the Taxation Administration Act 1953 made by this Schedule, that Act continues to apply, in relation to records or disclosures made for the purpose of:

                     (a)  the verification from the Regulator of information provided to the Commissioner under or for the purposes of the Fuel Tax Act 2006 so far as that Act applies to taxable fuel acquired, manufactured or imported before 1 July 2014; or

                     (b)  administering the Clean Energy Act 2011 or the associated provisions (within the meaning of that Act);

as if that amendment had not been made.

Division 4—Miscellaneous

342  Transitional rules

The Minister may, by legislative instrument, make rules in relation to transitional matters arising out of the amendments and repeals made by this Schedule.

Division 5—Transitional provisions commencing on Royal Assent

343  Auctions of carbon units

(1)       The Regulator must not conduct an auction of carbon units after the earlier of the following days:

                     (a)  the day this item commences;

                     (b)  30 June 2014.

(2)       Any determination under subsection 113(1) of the Clean Energy Act 2011 ceases to have effect at the end of the day (the relevant day ) that is the earlier of the following days:

                     (a)  the day this item commences;

                     (b)  30 June 2014;

except to the extent to which the determination relates to auctions conducted on or before the relevant day.

343A  Carbon units issued as a result of an auction conducted by the Regulator

(1)       If:

                     (a)  a carbon unit was issued as a result of an auction conducted by the Regulator; and

                     (b)  there is an entry for the unit in a person’s Registry account as at 3.00 pm (by legal time in the Australian Capital Territory) on the fifth business day after the day this item commences;

the Regulator must:

                     (c)  cancel the unit; and

                     (d)  remove the entry for the unit from the person’s Registry account; and

                     (e)  on behalf of the Commonwealth, pay to the person an amount equal to the charge paid for the issue of the unit.

(2)       The Registry must set out a record of each cancellation under paragraph (1)(c).

(3)       The Consolidated Revenue Fund is appropriated for the purposes of making payments under this item.

(4)       In this item:

business day means a day that is not:

                     (a)  a Saturday; or

                     (b)  a Sunday; or

                     (c)  a public holiday in the Australian Capital Territory.

344  Carbon pollution cap regulations

If this item commences on a day (the commencement day ) before 31 May 2014, the Clean Energy Act 2011 has effect during the period:

                     (a)  beginning at the start of the commencement day; and

                     (b)  ending at the end of 30 June 2014;

as if section 16 of that Act had not been enacted.

345  Fixed charge regulations

If this item commences on a day (the commencement day ) before 31 May 2014, the Clean Energy Act 2011 has effect during the period:

                     (a)  beginning at the start of the commencement day; and

                     (b)  ending at the end of 30 June 2014;

as if subsections 100(14) and (15) of that Act had not been enacted.

345A  Deadlines of 1 February and 15 June

The Clean Energy Act 2011 has, and is taken always to have had, effect as if the following definitions were inserted in section 5 of that Act:

15 June means:

                     (a)  if the 15 June concerned is a business day—that 15 June; or

                     (b)  if the 15 June concerned is not a business day—the first business day after that 15 June.

1 February means:

                     (a)  if the 1 February concerned is a business day—that 1 February; or

                     (b)  if the 1 February concerned is not a business day—the first business day after that 1 February.

345B  Surplus and estimation error adjustment number

The Clean Energy Act 2011 has, and is taken always to have had, effect as if the formula in subsection 131(3) of that Act were omitted and the following formula substituted:

345C  Definitions

If this Division commences before 1 July 2014, this Division has effect as if item 321 (definitions) had commenced at the same time as this Division commences.

345D  Compensation for acquisition of property

(1)       If the operation of this Schedule would result in an acquisition of property (within the meaning of paragraph 51(xxxi) of the Constitution) from a person otherwise than on just terms (within the meaning of that paragraph), the Commonwealth is liable to pay a reasonable amount of compensation to the person.

(2)       If the Commonwealth and the person do not agree on the amount of the compensation, the person may institute proceedings in a court of competent jurisdiction for the recovery from the Commonwealth of such reasonable amount of compensation as the court determines.

Part 4 Jobs and Competitiveness Program

Division 1—Preliminary

346  Definitions

(1)       In this Part:

levy means levy imposed by whichever of the following is applicable:

                     (a)  the True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014 ;

                     (b)  the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act 2014 .

over-allocation of free carbon units has the meaning given by item 354.

rules means rules made under item 359.

true-up shortfall has the meaning given by item 355.

under-allocation of free carbon units has the meaning given by item 352.

(2)       An expression used in this Part and in the Clean Energy Act 2011 has the same meaning in this Part as in that Act.

347  Crown to be bound

This Part binds the Crown in right of each of the States, of the Australian Capital Territory, of the Northern Territory and of Norfolk Island. However, it does not bind the Crown in right of the Commonwealth.

348  Extension to external Territories

This Part extends to every external Territory.

349  Extension to exclusive economic zone and continental shelf

This Part extends to Australia’s exclusive economic zone and continental shelf.

350  Extension to Joint Petroleum Development Area

This Part extends to the Joint Petroleum Development Area.

Division 2—Reporting requirements

351  Reporting requirements

Report

(1)       The rules may make provision for and in relation to requiring a designated person to give a written report to the Regulator for the purposes of this Part.

Designated person

(2)       For the purposes of this item, a person is a designated person if free carbon units with a vintage year beginning on 1 July 2013 are or were issued to the person in accordance with the Jobs and Competitiveness Program.

Compliance with reporting requirements

(3)       Subsection 151(1) of the Clean Energy Act 2011 has effect as if a requirement under rules made for the purposes of subitem (1) were a requirement under the Jobs and Competitiveness Program.

Division 3—Issue of additional free carbon units

352  Under-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 under-allocation of free carbon units ; and

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

353  Issue of additional free carbon units

(1)       If:

                     (a)  a person has an under-allocation of free carbon units; and

                     (b)  the person has a Registry account;

the Regulator must:

                     (c)  issue to the person, under section 94 of the Clean Energy Act 2011 , a number of free carbon units equal to the number of units in the under-allocation; and

                     (d)  do so within the period ascertained in accordance with the rules.

(2)       Free carbon units issued in accordance with subitem (1):

                     (a)  are to have a vintage year beginning on 1 July 2013; and

                     (b)  are taken (except for the purposes of this Part) to have been issued in accordance with the 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.

355  True-up shortfall

(1)       For the purposes of this Part, if:

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

                     (b)  the number worked out using the formula in subitem (2) exceeds zero;

then:

                     (c)  the person has a true-up shortfall ; and

                     (d)  the number of units in that shortfall is equal to the number worked out using that formula.

Note:       Levy is imposed on a true-up shortfall by whichever of the following is applicable:

(a)    the True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014 ;

(b)    the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act 2014 .

(2)       The formula is as follows:

           

where:

number of units relinquished means the number of carbon units with a vintage year beginning on 1 July 2013 that were relinquished by the person (other than as mentioned in paragraph 210(2)(b) or (c) of the Clean Energy Act 2011 ) during the period ascertained in accordance with the rules.

Division 5—Collection of levy

356  When levy is due and payable

Levy imposed on a true-up shortfall of a person is due and payable at the end of the period ascertained in accordance with the rules.

357  Late payment penalty

(1)       If an amount of levy payable by a person remains unpaid after the time when it became due for payment, the person is liable to pay, by way of penalty, an amount calculated at the rate of:

                     (a)  20% per annum; or

                     (b)  if a lower percentage is specified in the rules—that lower percentage per annum;

on the amount unpaid, computed from that time.

Power to remit

(2)       The Regulator may remit the whole or a part of an amount payable under subitem (1).

(3)       Applications may be made to the Administrative Appeals Tribunal for review of decisions of the Regulator under subitem (2) to refuse to remit the whole or a part of an amount.

358  Recovery of levy and late payment penalty

Scope

(1)       This item applies to the following amounts:

                     (a)  an amount of levy;

                     (b)  an amount payable under item 357.

Recovery

(2)       The amount:

                     (a)  is a debt due to the Commonwealth; and

                     (b)  may be recovered by the Regulator, on behalf of the Commonwealth, by action in a court of competent jurisdiction.

Division 6—Miscellaneous

358A  Associated provisions

A reference in the Clean Energy Act 2011 (other than section 307) to the associated provisions includes a reference to:

                     (a)  the provisions of this Part; and

                     (b)  the provisions of the rules; and

                     (c)  the provisions of the True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014 ; and

                     (d)  the provisions of the True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act 2014 .

359  Rules

(1)       The Minister may, by legislative instrument, make rules prescribing matters:

                     (a)  required or permitted by this Part to be prescribed by the rules; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Part.

(2)       Conditions specified in rules made for the purposes of paragraph 352(b) or 354(b) may relate to events or things that occurred, or circumstances that existed, before the rules were registered under the Legislative Instruments Act 2003 .