(1)    Clause 5, page 8 (line 1), omit the definition of carbon sequestration right, substitute:

carbon sequestration right:

              (a)    when used in relation to a reforestation project—has the meaning given by section 239A; or

              (b)    when used in relation to an area of land—has the meaning given by section 240.

(2)    Clause 5, page 9 (after line 21), after the definition of controlling corporation, insert:

control: a person has control of a reforestation project if:

              (a)    the person is the holder of the forestry right in relation to the project area or each of the project areas; or

              (b)    under a contract, or an arrangement, of a kind specified in the regulations, the person is entitled or required to establish, manage and maintain:

                    (i)    a forest on the project area; or

                   (ii)    a forest on each of the project areas.

(3)    Clause 5, page 11 (after line 1), after the definition of eligible financial year, insert:

eligible interest, in relation to an area of land, has the meaning given by section 241A or 241B.

(4)    Clause 5, page 14 (after line 27), after the definition of foreign person, insert:

forest maintenance obligation has the meaning given by section 226.

forest restoration order means an order under section 226C.

(5)    Clause 5, page 15 (after line 15), at the end of the definition of forest stand, add:

(6)    Clause 5, page 21 (after line 21), after the definition of penalty unit, insert:

permitted forest activity has the meaning given by section 226.

(7)    Clause 5, page 22 (after line 8), after the definition of premises, insert:

prescribed non-CPRS reforestation scheme has the meaning given by the regulations.

(8)    Clause 5, page 22 (after line 28), after the definition of project area, insert:

project manager, in relation to a reforestation project, has the meaning given by section 197A.

(9)    Clause 5, page 24 (lines 27 and 28), omit the definition of relinquishment obligation transfer agreement.

(10)  Clause 5, page 25 (after line 12), after the definition of scheme, insert:

scheme obligation transfer agreement has the meaning given by section 197B.

(11)  Clause 5, page 26 (lines 23 and 24), omit the definition of transferee, substitute:

transferee, in relation to a scheme obligation transfer agreement, has the meaning given by section 197B.

(12)  Clause 35, page 84 (after line 8), after paragraph (1)(c), insert:

            (ca)    the supply mentioned in paragraph (a) was not into a prescribed wholesale gas market; and

(13)  Clause 49, page 94 (line 1), omit “Authority.”, substitute “Authority; and”.

(14)  Clause 49, page 94 (after line 1), at the end of subclause (5), add:

              (c)    if the person has an ABN—the person’s ABN.

(15)  Clause 79, page 124 (after line 28), after subparagraph (2)(b)(i), insert:

                  (ia)    if a controlling corporation of a group consented under subsection 74(3) to the making of the application for the certificate—the person is not a member of the group; or

(16)  Page 155 (after line 21), after clause 116B, insert:

116BA   Equitable interests in relation to a Kyoto unit

         (1)    This Act does not affect:

              (a)    the creation of; or

              (b)    any dealings with; or

              (c)    the enforcement of;

         (2)    Subsection (1) is enacted for the avoidance of doubt.

(17)  Page 162 (after line 2), after clause 122A, insert:

122AA   Equitable interests in relation to a non-Kyoto international emissions unit

         (1)    This Act does not affect:

              (a)    the creation of; or

              (b)    any dealings with; or

              (c)    the enforcement of;

         (2)    Subsection (1) is enacted for the avoidance of doubt.

(18)  Clause 129, page 171 (after line 3), after subclause (5), insert:

   (5AA)    An Australian emissions unit must not be surrendered in relation to the eligible financial year beginning on 1 July 2011 unless the unit has a vintage year of that eligible financial year.

(19)  Heading to subclause 143(3), page 184 (line 29), omit “Free”.

(20)  Clause 143, page 184 (line 33), omit “free”.

(21)  Clause 146, page 190 (lines 10 to 11), omit subclause (5).

(22)  Clause 173B, page 211 (after line 8), after paragraph (1)(a), insert:

            (aa)    the corporation is capable of complying with the request; and

(23)  Clause 173B, page 211 (line 9), omit “request.”, substitute “request; and”.

(24)  Clause 173B, page 211 (after line 9), at the end of subclause (1), add:

              (c)    the Minister notifies the Authority, in writing, that the Minister considers that the non-compliance is significant.

(25)  Clause 190, page 240 (line 16), omit “holder”, substitute “project manager (who may be the holder)”.

(26)  Clause 190, page 240 (lines 25 and 26), omit “on the holder of the forestry right”.

(27)  Clause 192, page 243 (lines 3 to 11), omit subclause (1), substitute:

         (1)    If:

              (a)    a person gives a reforestation report to the Authority; and

              (b)    the reforestation report is in respect of an eligible reforestation project for a reforestation reporting period;

              (c)    if the person holds the carbon sequestration right in relation to the project—the person; or

              (d)    otherwise—the person who holds the carbon sequestration right in relation to the project;

(28)  Clause 193, page 243 (line 18), before “An”, insert “(1)”.

(29)  Clause 193, page 243 (line 20), omit “Authority.”, substitute “Authority; and”.

(30)  Clause 193, page 243 (after line 20), after paragraph (b), insert:

              (c)    be accompanied by the fee (if any) specified in the regulations.

(31)  Clause 193, page 243 (before line 21), at the end of the clause, add:

         (2)    A fee specified under paragraph (1)(c) must not be such as to amount to taxation.

(32)  Clause 195, page 244 (line 8), omit “the Authority is satisfied that”.

(33)  Clause 195, page 244 (lines 10 and 11), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(34)  Clause 195, page 244 (after line 23), after paragraph (2)(f), insert:

             (fa)    the number that, under the regulations, is taken to be the carbon stock number for the project is greater than the number that, under the regulations, is taken to be the 2008 carbon stock number for the project; and

(35)  Clause 195, page 244 (line 30), omit “Note 1”, substitute “Note”.

(36)  Clause 195, page 244 (line 31), omit note 2.

(37)  Clause 195, page 245 (after line 9), after subclause (3), insert:

      (3A)    For the purposes of subsection (3), if:

              (a)    a forest stand is situated wholly or partly on Torrens system land; and

              (b)    the Authority is not satisfied that appropriate entries or notations have been made under section 236 in relation to the land by the relevant land registration official referred to in that section;

(38)  Clause 195, page 245 (after line 23), after subclause (6), insert:

      (6A)    If:

              (a)    the Authority issues a certificate of reforestation to the person who holds the carbon sequestration right in relation to the project; and

              (b)    that person is not the project manager for the project;

(39)  Clause 195, page 246 (lines 1 to 5), omit subclause (8).

(40)  Clause 196, page 247 (after line 2), after subclause (3), insert:

      (3A)    For the purposes of subsection (2), if:

              (a)    a forest stand became part of an eligible reforestation project as the result of a variation of a section 209 declaration; and

              (b)    the variation took effect after the day the section 209 declaration took effect;

(41)  Clause 196, page 247 (lines 3 to 6), omit subclause (4).

(42)  Page 247 (after line 8), after Division 3, insert:

Division 3A—Project managers

197A   Project manager for a reforestation project

         (1)    For the purposes of this Act, the project manager for a reforestation project is:

              (a)    if a scheme obligation transfer agreement is in force in relation to the project—the person who, under that agreement, accepts responsibility for complying with any requirements that may be imposed by or under this Act or the associated provisions on the person in the person’s capacity as project manager for the project; or

              (b)    otherwise—the person who holds the carbon sequestration right in relation to the project.

         (2)    To avoid doubt, the continuity of a person’s status as the project manager for a reforestation project is not affected by:

              (a)    a transfer of the carbon sequestration right in relation to the project; or

              (b)    if the project is an eligible reforestation project—the variation of the section 209 declaration of the eligible reforestation project.

         (3)    To avoid doubt, if:

              (a)    a person becomes subject to a requirement to relinquish Australian emissions units in the person’s capacity as project manager for an eligible reforestation project; and

              (b)    before that requirement was met, the person ceased to be the project manager for the project;

197B   Scheme obligation transfer agreement

         (1)    For the purposes of this Act, a scheme obligation transfer agreement in relation to a reforestation project is an agreement, where:

              (a)    the agreement is between:

                    (i)    the person who, immediately before the agreement was entered into, was the project manager for the project; and

                   (ii)    another person (the transferee); and

              (b)    the agreement states that the transferee accepts responsibility for complying with any requirements that may be imposed by or under this Act or the associated provisions on the transferee in the transferee’s capacity as project manager for the project; and

              (c)    the Authority has given written approval to the agreement; and

              (d)    if the Authority, in accordance with the regulations, requires the transferee to give security to the Commonwealth in relation to the fulfilment by the transferee of any requirements to relinquish Australian emissions units that may be imposed on the transferee under this Part in relation to the project—the transferee has given that security; and

              (e)    the holder of the carbon sequestration right in relation to the project:

                    (i)    has consented, in writing, to the making of the agreement; or

                   (ii)    is a party to the agreement; and

               (f)    such other conditions (if any) as are specified in the regulations are satisfied.

         (2)    The Authority must not, under paragraph (1)(c), give approval to an agreement that relates to a reforestation project unless:

              (a)    the transferee is a recognised reforestation entity; and

              (b)    if the transferee neither holds, nor is likely to hold, the carbon sequestration right in relation to the project:

                    (i)    the transferee is not an individual; and

                   (ii)    the Authority is satisfied that the transferee has, or is likely to have, control of the project; and

              (c)    the Authority is satisfied that the transferee has, and is likely to continue to have:

                    (i)    the capacity; and

                   (ii)    the financial resources;

                       necessary for the transferee to comply with any requirements that may be imposed by or under this Act or the associated provisions on the transferee in the transferee’s capacity as project manager for the project; and

              (d)    if:

                    (i)    the project is or was an eligible reforestation project; and

                   (ii)    a notice was given under section 232 or 233 in relation to the reforestation project; and

                  (iii)    the notice required a person to relinquish a particular number of Australian emissions units; and

                  (iv)    the person did not comply with the requirement within 90 days after the notice was given;

                       the penalty payable under section 287 in respect of the non-compliance with the requirement (including any late payment penalty payable under section 288 in relation to the section 287 penalty) has been paid in full.

         (3)    A scheme obligation transfer agreement:

              (a)    comes into force:

                    (i)    at the time when the agreement is approved by the Authority under paragraph (1)(c); or

                   (ii)    at such later time as is specified by the Authority in the instrument of approval; and

              (b)    remains in force until whichever of the following happens first:

                    (i)    the agreement is cancelled under section 197C;

                   (ii)    another scheme obligation transfer agreement comes into force, and the other agreement is expressed to replace the first-mentioned agreement;

                  (iii)    the transferee ceases to exist.

         (4)    To avoid doubt, if:

              (a)    a scheme obligation transfer agreement is in force in relation to a reforestation project; and

              (b)    the carbon sequestration right in relation to the project is transferred;

         (5)    To avoid doubt, if:

              (a)    a scheme obligation transfer agreement is in force in relation to an eligible reforestation project; and

              (b)    the relevant section 209 declaration is varied;

         (6)    A scheme obligation transfer agreement is not a legislative instrument.

197C   Holder of carbon sequestration right may elect to assume scheme obligations

                  If:

              (a)    a scheme obligation transfer agreement is in force in relation to a reforestation project; and

              (b)    the person who holds the carbon sequestration right in relation to the project is a recognised reforestation entity;

              (c)    the holder may, by written notice given to the Authority, elect to accept responsibility for complying with any requirements that may be imposed by or under this Act or the associated provisions on the holder in the holder’s capacity as project manager for the project; and

              (d)    if the holder does so—the agreement is cancelled.

(43)  Clause 209, page 256 (lines 1 to 3), omit paragraph (4)(b).

(44)  Clause 209, page 256 (line 4), omit “applicant”, substitute “project manager for the project”.

(45)  Clause 209, page 256 (lines 5 and 6), omit paragraph (4)(d), substitute:

              (d)    the applicant is the project manager for the project; and

            (da)    a single person (who may be the applicant) holds the carbon sequestration right in relation to the project; and

            (db)    if the applicant does not hold the carbon sequestration right in relation to the project—the holder of the carbon sequestration right in relation to the project has consented, in writing, to the making of the application; and

(46)  Clause 209, page 256 (lines 7 to 18), omit paragraph (4)(e), substitute:

              (e)    each of the following has consented, in writing, to the making of the application:

                    (i)    each person (other than the applicant) who holds an eligible interest in the project area or any of the project areas;

                   (ii)    a person specified in the regulations; and

(47)  Clause 209, page 256 (after line 21), after subparagraph (4)(f)(i), insert:

                  (ia)    the project area is not, or the project areas are not, Torrens system land; and

(48)  Clause 209, page 256 (lines 26 and 27), omit subparagraph (4)(f)(iii), substitute:

                  (iii)    the person identified in the application as the holder of the carbon sequestration right in relation to the project holds that right; and

(49)  Clause 209, page 256 (line 36), omit “, or the project areas are,”.

(50)  Clause 209, page 257 (line 2), omit “or project areas”.

(51)  Clause 209, page 257 (line 3), omit “, or the project areas are not,”.

(52)  Clause 209, page 257 (line 5), omit “, or the project areas are not,”.

(53)  Clause 209, page 257 (after line 8), after subclause (5), insert:

      (5A)    A consent under paragraph (4)(e) must be in a form approved, in writing, by the Authority.

(54)  Clause 209, page 257 (lines 29 to 32), omit subclause (9), substitute:

         (9)    As soon as practicable after making a declaration under subsection (2), the Authority must give a copy of the declaration to:

              (a)    the applicant; and

              (b)    if the applicant does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(55)  Clause 212, page 260 (lines 14 to 16), omit paragraph (3)(b).

(56)  Clause 212, page 260 (line 17), omit “applicant”, substitute “project manager for the project”.

(57)  Clause 212, page 260 (lines 18 and 19), omit paragraph (3)(d), substitute:

              (d)    the applicant is the project manager for the varied project; and

            (da)    a single person (who may be the applicant) holds the carbon sequestration right in relation to the varied project; and

            (db)    if the applicant does not hold the carbon sequestration right in relation to the varied project—the holder of the carbon sequestration right in relation to the varied project has consented, in writing, to the making of the application; and

(58)  Clause 212, page 260 (lines 20 to 31), omit paragraph (3)(e), substitute:

              (e)    each of the following has consented, in writing, to the making of the application:

                    (i)    each person (other than the applicant) who holds an eligible interest in the varied project area or any of the varied project areas;

                   (ii)    a person specified in the regulations; and

(59)  Clause 212, page 261 (after line 2), after subparagraph (3)(f)(i), insert:

                  (ia)    the varied project area is not, or the varied project areas are not, Torrens system land; and

(60)  Clause 212, page 261 (lines 7 and 8), omit subparagraph (3)(f)(iii), substitute:

                  (iii)    the person identified in the application as the holder of the carbon sequestration right in relation to the varied project holds that right; and

(61)  Clause 212, page 261 (line 17), omit “, or the varied project areas are,”.

(62)  Clause 212, page 261 (line 20), omit “or varied project areas”.

(63)  Clause 212, page 261 (lines 21 and 22), omit “, or the varied project areas are not,”.

(64)  Clause 212, page 261 (lines 23 and 24), omit “, or the varied project areas are not,”.

(65)  Clause 212, page 261 (after line 26), after subclause (4), insert:

      (4A)    A consent under paragraph (3)(e) must be in a form approved, in writing, by the Authority.

(66)  Clause 212, page 262 (lines 1 to 3), omit subclause (6), substitute:

         (6)    A variation under subsection (2) takes effect:

              (a)    immediately after it is made; or

              (b)    if:

                    (i)    an earlier day is specified in the variation; and

                   (ii)    the applicant has consented to the specification of the earlier day; and

                  (iii)    the earlier day is the first day of a reforestation reporting period for the eligible reforestation project;

                       on the day specified.

      (6A)    The specified day must not be a day that is earlier than the first day of the 5-year period ending when the application for the variation was made.

(67)  Clause 212, page 262 (lines 4 to 7), omit subclause (7), substitute:

         (7)    As soon as practicable after varying a declaration under subsection (2), the Authority must give a copy of the variation to:

              (a)    the applicant; and

              (b)    if the applicant does not hold the carbon sequestration right in relation to the varied project—the person who holds the carbon sequestration right in relation to the varied project.

(68)  Heading to clause 213, page 262 (line 20), at the end of the heading, add “in a part of a project area”.

(69)  Clause 213, page 263 (lines 5 to 8), omit subclause (3), substitute:

         (3)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the varied project; and

              (b)    if the project manager for the varied project does not hold the carbon sequestration right in relation to the varied project—the person who holds the carbon sequestration right in relation to the varied project.

(70)  Page 263 (after line 14), after clause 213, insert:

213A   Variation of declaration of eligible reforestation project that has 2 or more project areas—cessation of reforestation activity in the whole of a project area

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    the project has 2 or more project areas; and

              (c)    the whole of an area of land identified in the declaration as a project area has remained clear of a forest stand for a continuous period of at least 5 years that began at a time when the declaration was in force; and

              (d)    subsection 217(1) does not apply to the project.

         (2)    The Authority must, by writing, vary the declaration by excluding that area from the areas of land identified in the declaration as the project areas.

         (3)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

         (4)    If a declaration of an eligible reforestation project is varied under this section, a reference in this Act to the eligible reforestation project is a reference to the eligible reforestation project as varied.

         (5)    A variation under subsection (2) is not a legislative instrument.

(71)  Heading to clause 214, page 263 (line 16), at the end of the heading, add “in a part of a project area”.

(72)  Clause 214, page 263 (line 27), omit “209(4)(g)”, substitute “209(4)(g); or”.

(73)  Clause 214, page 263 (after line 27), at the end of paragraph (1)(b), add:

                  (iii)    does not meet the requirements set out in subsection 209(5).

(74)  Clause 214, page 264 (lines 19 to 22), omit subclause (5), substitute:

         (5)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(75)  Page 264 (after line 28), at the end of Subdivision C, add:

214A   Variation of declaration of eligible reforestation project that has 2 or more project areas—eligibility requirements not met in the whole of a project area

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    the project has 2 or more project areas; and

              (c)    the Authority is satisfied that a project that is being, or is to be, carried out in a part of an area of land identified in the declaration as a project area:

                    (i)    is not a reforestation project; or

                   (ii)    does not meet any or all of the eligibility requirements specified in regulations made for the purposes of paragraph 209(4)(g); or

                  (iii)    does not meet the requirements set out in subsection 209(5); and

              (d)    subsection 218(1) does not apply in relation to the project.

         (2)    The Authority must, by writing, vary the declaration by excluding that area from the areas of land identified in the declaration as the project areas.

         (3)    Before varying the declaration, the Authority must give the project manager for the project a written notice:

              (a)    informing the project manager of the proposed variation; and

              (b)    inviting the project manager to make a submission to the Authority within 90 days after the notice was given, about the proposed variation.

         (4)    In deciding whether to vary the declaration, the Authority must have regard to:

              (a)    a submission made in response to an invitation under subsection (3); and

              (b)    such other matters (if any) as the Authority considers relevant.

         (5)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

         (6)    If a declaration of an eligible reforestation project is varied under this section, a reference in this Act to the eligible reforestation project is a reference to the eligible reforestation project as varied.

         (7)    A variation under subsection (2) is not a legislative instrument.

(76)  Page 264, after proposed clause 214A, insert:

214B   Variation of declaration of eligible reforestation project—ceasing to hold carbon sequestration right in relation to part of a project area

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    a person ceases to hold the carbon sequestration right in relation to a part of an area of land identified in the declaration as the project area or a project area.

         (2)    The Authority must, by writing, vary the declaration by excluding that part from the area of land identified in the declaration as the relevant project area.

         (3)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

         (4)    If a declaration of an eligible reforestation project is varied under this section, a reference in this Act to the eligible reforestation project is a reference to the eligible reforestation project as varied.

         (5)    A variation under subsection (2) is not a legislative instrument.

(77)  Page 264, after proposed clause 214B, insert:

214C   Variation of declaration of eligible reforestation project that has 2 or more project areas—ceasing to hold carbon sequestration right in relation to the whole of a project area

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    the project has 2 or more project areas; and

              (c)    a person ceases to hold the carbon sequestration right in relation to the whole of an area of land identified in the declaration as a project area; and

              (d)    the person has not ceased to hold the carbon sequestration right in relation to any of the remaining areas of land.

         (2)    The Authority must, by writing, vary the declaration by excluding that area from the areas of land identified in the declaration as the project areas.

         (3)    As soon as practicable after varying the declaration, the Authority must give a copy of the variation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

         (4)    If a declaration of an eligible reforestation project is varied under this section, a reference in this Act to the eligible reforestation project is a reference to the eligible reforestation project as varied.

         (5)    A variation under subsection (2) is not a legislative instrument.

(78)  Clause 215, page 265 (lines 11 and 12), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(79)  Clause 215, page 265 (lines 26 to 29), omit subclause (4), substitute:

         (4)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(80)  Clause 216, page 266 (lines 11 and 12), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(81)  Clause 216, page 266 (lines 20 to 23), omit subclause (4), substitute:

         (4)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(82)  Clause 217, page 267 (lines 21 to 24), omit subclause (3), substitute:

         (3)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(83)  Clause 218, page 268 (line 13), omit “209(4)(g).”, substitute “209(4)(g); or”.

(84)  Clause 218, page 268 (after line 13), at the end of paragraph (1)(b), add:

                  (iii)    does not meet the requirements set out in subsection 209(5).

(85)  Clause 218, page 269 (lines 1 to 4), omit subclause (5), substitute:

         (5)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

(86)  Page 269 (after line 6), after clause 218, insert:

218A   Unilateral revocation of declaration of eligible reforestation project—project manager ceases to be a recognised reforestation entity

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    the project manager for the project ceases to be a recognised reforestation entity; and

              (c)    if the project manager holds the carbon sequestration right in relation to the project—90 days pass after the cessation, and the person who, at the end of that 90-day period, is the project manager for the project is not a recognised reforestation entity; and

              (d)    if the project manager does not hold the carbon sequestration right in relation to the project—90 days pass after the Authority notifies the holder of the carbon sequestration right of the cessation, and the person who, at the end of that 90-day period, is the project manager for the project is not a recognised reforestation entity.

         (2)    The Authority may, by writing, revoke the declaration.

         (3)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right in relation to the project—the person who holds the carbon sequestration right in relation to the project.

         (4)    A revocation under subsection (2) is not a legislative instrument.

(87)  Clause 219, page 269 (after line 14), after paragraph (1)(b), insert:

            (ba)    immediately before the cessation, the person was the project manager for the project; and

(88)  Clause 219, page 269 (lines 15 to 17), omit paragraph (1)(c), substitute:

              (c)    a scheme obligation transfer agreement was not in force in relation to the project within 90 days after the cessation occurred.

(89)  Page 269 (after line 27), at the end of Division 5, add:

219A   Unilateral revocation of declaration of eligible reforestation project—project manager ceases to have control of reforestation project

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project; and

              (b)    a scheme obligation transfer agreement is in force in relation to the project; and

              (c)    the project manager does not hold the carbon sequestration right in relation to the project; and

              (d)    the project manager for the project ceases to have control of the reforestation project; and

              (e)    90 days pass after the Authority notifies the holder of the carbon sequestration right of the cessation, and the agreement is still in force.

         (2)    The Authority must, by writing, revoke the declaration.

         (3)    As soon as practicable after revoking the declaration, the Authority must give a copy of the revocation to:

              (a)    the project manager for the project; and

              (b)    the person who holds the carbon sequestration right in relation to the project.

         (4)    A revocation under subsection (2) is not a legislative instrument.

(90)  Clause 220, page 270 (lines 19 and 20), omit “2008 carbon stock baseline number”, substitute “the 2008 carbon stock number”.

(91)  Clause 220, page 270 (lines 21 to 23), omit subclause (4), substitute:

         (4)    A notice under subsection (2) must be accompanied by a statement setting out:

              (a)    the number that, under the regulations, is taken to be the projected net greenhouse gases removal number for the project; and

              (b)    the number that, under the regulations, is taken to be the non-CPRS greenhouse gases removal sales number for the project; and

              (c)    the number that, under the regulations, is taken to be the 2008 carbon stock number for the project.

(92)  Clause 220, page 270 (line 27) to page 271 (line 2), omit subclause (6).

(93)  Clause 221, page 271 (line 12), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(94)  Clause 221, page 271 (lines 15 and 16), omit subclause (3), substitute:

         (3)    A notice under subsection (2) must be accompanied by a statement setting out:

              (a)    the number that, under the regulations, is taken to be the projected net greenhouse gases removal number for the project; and

              (b)    the number that, under the regulations, is taken to be the non-CPRS greenhouse gases removal sales number for the project; and

              (c)    the number that, under the regulations, is taken to be the 2008 carbon stock number for the project.

(95)  Clause 222, page 272 (line 6), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(96)  Clause 222, page 272 (lines 9 and 10), omit subclause (3), substitute:

         (3)    A notice under subsection (2) must be accompanied by a statement setting out:

              (a)    the number that, under the regulations, is taken to be the projected net greenhouse gases removal number for the project; and

              (b)    the number that, under the regulations, is taken to be the non-CPRS greenhouse gases removal sales number for the project; and

              (c)    the number that, under the regulations, is taken to be the 2008 carbon stock number for the project.

(97)  Page 272 (after line 16), after Division 6, insert:

Division 6A—Restructure of reforestation projects

222A   Restructure of reforestation projects—making of declaration relating to receiving project

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project (the original reforestation project); and

              (b)    a person ceases to hold the carbon sequestration right in relation to the whole or a part of an area of land identified in the declaration as a project area; and

              (c)    either:

                    (i)    in a case where the person ceases to hold the carbon sequestration right in relation to a part of an area of land identified in the declaration as a project area—the declaration is varied under section 214B by excluding that part from the area of land identified in the declaration as the relevant project area; or

                   (ii)    in a case where the person ceases to hold the carbon sequestration right in relation to the whole of an area of land identified in the declaration as a project area—the declaration is varied under section 214C by excluding that area from the areas of land identified in the declaration as the project areas; and

              (d)    within 90 days after the cessation:

                    (i)    there is another reforestation project for which that area is a project area; and

                   (ii)    a scheme obligation transfer agreement has come into force in relation to the other reforestation project; and

              (e)    the project manager for the other reforestation project makes an application under section 205 for the declaration of the other project as an eligible reforestation project; and

               (f)    after considering the application, the Authority makes a declaration under subsection 209(2) that the other reforestation project is an eligible reforestation project for the purposes of this Act.

         (2)    As soon as practicable after making the declaration mentioned in paragraph (1)(f), the Authority must, by written notice given to the applicant for the declaration, determine that:

              (a)    whenever it is necessary to calculate an amount in relation to the other reforestation project using the formula in subsection 195(3), that subsection has effect, in relation to the other reforestation project, as if the net total number of tonnes of greenhouse gases removed were increased by the number specified in the determination; and

              (b)    whenever it is necessary to calculate an amount in relation to the other reforestation project using the formula in subsection 196(2), that subsection has effect, in relation to the other reforestation project, as if the net total number of tonnes of greenhouse gases removed were increased by the number specified in the determination; and

              (c)    whenever it is necessary to work out the net total number of Australian emissions units issued in relation to the other reforestation project, this Part has effect, in relation to the other reforestation project, as if the net total number of Australian emissions units issued in relation to the project in accordance with this Part were increased by the number specified in the determination.

         (3)    In making a determination under subsection (2), the Authority must comply with the regulations.

         (4)    As soon as practicable after making the declaration mentioned in paragraph (1)(f), the Authority must, by written notice given to the project manager for the original reforestation project, determine that:

              (a)    whenever it is necessary to calculate an amount in relation to the original reforestation project using the formula in subsection 195(3), that subsection has effect, in relation to the original reforestation project, as if the net total number of tonnes of greenhouse gases removed were decreased by the number specified in the determination; and

              (b)    whenever it is necessary to calculate an amount in relation to the original reforestation project using the formula in subsection 196(2), that subsection has effect, in relation to the original reforestation project, as if the net total number of tonnes of greenhouse gases removed were decreased by the number specified in the determination; and

              (c)    whenever it is necessary to work out the net total number of Australian emissions units issued in relation to the original reforestation project, this Part has effect, in relation to the original reforestation project, as if the net total number of Australian emissions units issued in relation to the project in accordance with this Part were decreased by the number specified in the determination.

         (5)    In making a determination under subsection (4), the Authority must comply with the regulations.

         (6)    Despite section 223, the first reforestation reporting period for the other reforestation project is the same as the reforestation reporting period for the original reforestation project in which the cessation mentioned in paragraph (1)(b) occurred.

         (7)    A determination made under subsection (2) or (4) is not a legislative instrument.

222B   Restructure of reforestation projects—variation of declaration relating to receiving project

         (1)    This section applies if:

              (a)    a declaration is in force under section 209 in relation to a reforestation project (the original reforestation project); and

              (b)    a person ceases to hold the carbon sequestration right in relation to the whole or a part of an area of land identified in the declaration as a project area; and

              (c)    either:

                    (i)    in a case where the person ceases to hold the carbon sequestration right in relation to a part of an area of land identified in the declaration as a project area—the declaration is varied under section 214B by excluding that part from the area of land identified in the declaration as the relevant project area; or

                   (ii)    in a case where the person ceases to hold the carbon sequestration right in relation to the whole of an area of land identified in the declaration as a project area—the declaration is varied under section 214C by excluding that area from the areas of land identified in the declaration as the project areas; and

              (d)    within 90 days after the cessation:

                    (i)    there is another reforestation project for which that area is a project area; and

                   (ii)    a scheme obligation transfer agreement has come into force in relation to the other reforestation project; and

              (e)    the project manager for the other reforestation project makes an application under section 212 for the variation of the section 209 declaration of the other project; and

               (f)    after considering the application, the Authority varies the section 209 declaration of the other project; and

              (g)    as a result of the variation, that area becomes a project area of the other project.

         (2)    As soon as practicable after varying the declaration mentioned in paragraph (1)(f), the Authority must, by written notice given to the project manager for the other project, determine that:

              (a)    whenever it is necessary to calculate an amount in relation to the other reforestation project using the formula in subsection 195(3), that subsection has effect, in relation to the other reforestation project, as if the net total number of tonnes of greenhouse gases removed were increased by the number specified in the determination; and

              (b)    whenever it is necessary to calculate an amount in relation to the other reforestation project using the formula in subsection 196(2), that subsection has effect, in relation to the other reforestation project, as if the net total number of tonnes of greenhouse gases removed were increased by the number specified in the determination; and

              (c)    whenever it is necessary to work out the net total number of Australian emissions units issued in relation to the other reforestation project, this Part has effect, in relation to the other reforestation project, as if the net total number of Australian emissions units issued in relation to the project in accordance with this Part were increased by the number specified in the determination.

         (3)    In making a determination under subsection (2), the Authority must comply with the regulations.

         (4)    As soon as practicable after the making of the variation mentioned in subparagraph (1)(c)(i) or (ii), the Authority must, by written notice given to the project manager for the original project, determine that:

              (a)    whenever it is necessary to calculate an amount in relation to the original reforestation project using the formula in subsection 195(3), that subsection has effect, in relation to the original reforestation project, as if the net total number of tonnes of greenhouse gases removed were decreased by the number specified in the determination; and

              (b)    whenever it is necessary to calculate an amount in relation to the original reforestation project using the formula in subsection 196(2), that subsection has effect, in relation to the original reforestation project, as if the net total number of tonnes of greenhouse gases removed were decreased by the number specified in the determination; and

              (c)    whenever it is necessary to work out the net total number of Australian emissions units issued in relation to the original reforestation project, this Part has effect, in relation to the original reforestation project, as if the net total number of Australian emissions units issued in relation to the project in accordance with this Part were decreased by the number specified in the determination.

         (5)    In making a determination under subsection (4), the Authority must comply with the regulations.

         (6)    A determination made under subsection (2) or (4) is not a legislative instrument.

(98)  Clause 223, page 273 (after line 8), at the end of subclause (1), add:

(99)  Clause 223, page 273 (line 15), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(100)       Clause 223, page 273 (line 19), omit “less than 5 years”, substitute “not more than 5 years”.

(101)       Clause 224, page 274 (line 18), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(102)       Clause 224, page 274 (line 22), omit “less than 5 years”, substitute “not more than 5 years”.

(103)       Clause 225, page 275 (lines 4 and 5), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(104)       Clause 225, page 275 (after line 14), after paragraph (3)(b), insert:

            (ba)    be accompanied by such documents (if any) as are specified in the regulations; and

(105)       Clause 225, page 275 (after line 19), after subclause (4), insert:

      (4A)    A document specified in regulations made for the purposes of paragraph (3)(ba) may relate to a matter arising before, during or after the reforestation reporting period.

(106)       Subdivision A, clause 226, page 277 (line 2) to page 279 (line 23), omit the Subdivision, substitute:

Subdivision A—Forest maintenance obligation

226   Forest maintenance obligation

         (1)    This section applies to one or more areas of land if:

              (a)    the following conditions are satisfied:

                    (i)    a notice was given under section 232 or 233 in relation to a project that is or was an eligible reforestation project;

                   (ii)    the area was, or the areas were, identified in the relevant section 209 declaration as the project area or project areas for the eligible reforestation project;

                  (iii)    the notice required a person to relinquish a particular number of Australian emissions units;

                  (iv)    the person did not comply with the requirement within 90 days after the notice was given; or

              (b)    the following conditions are satisfied:

                    (i)    a notice was given under section 232 or 233 in relation to a project that is or was an eligible reforestation project;

                   (ii)    the area was, or the areas were, identified in the relevant section 209 declaration as the project area or project areas for the eligible reforestation project;

                  (iii)    the notice required a person to relinquish a particular number of Australian emissions units;

                  (iv)    the Authority is satisfied that it is likely that the person will not comply with the requirement within 90 days after the notice was given; or

              (c)    the Authority is satisfied that:

                    (i)    it is likely that a notice will be given under section 232 or 233 in relation to an eligible reforestation project; and

                   (ii)    the area is, or the areas are, identified in the relevant section 209 declaration as the project area or project areas for the eligible reforestation project; and

                  (iii)    the notice is likely to require a person to relinquish a particular number of Australian emissions units; and

                  (iv)    it is likely that the person will not comply with the requirement within 90 days after the notice is given.

         (2)    The Authority may, by writing, declare that:

              (a)    the area or areas of land are subject to a forest maintenance obligation; and

              (b)    an activity (if any) specified in the declaration is a permitted forest activity in relation to the area or areas of land for the purposes of this Act.

         (3)    An activity may be specified under paragraph (2)(b) by reference to:

              (a)    the area or areas of land on which the activity may be carried out; or

              (b)    the manner in which the activity may be carried out; or

              (c)    the time or times at which the activity may be carried out; or

              (d)    the period or periods during which the activity may be carried out; or

              (e)    the person or persons who may carry out the activity.

         (4)    Subsection (3) does not limit the ways in which an activity may be specified under paragraph (2)(b).

         (5)    If the Authority makes a declaration under subsection (2), the Authority must take all reasonable steps to ensure that a copy of the declaration is given to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right for the project—the person who holds the carbon sequestration right for the project; and

              (c)    each person who holds an eligible interest in the area, or any of the areas, of land; and

              (d)    a person specified in the regulations; and

              (e)    the relevant land registration official (within the meaning of section 237).

         (6)    A failure to comply with subsection (5) does not affect the validity of a declaration under subsection (2).

         (7)    If the area or areas of land are subject to a forest maintenance obligation, a person must not engage in conduct that has, or is likely to have, the result that:

              (a)    there is no forest stand on the area, or any of the areas, of land; or

              (b)    the number that, under the regulations, is taken to be the number of tonnes of greenhouse gases removed by the forest stand or stands on the area, or any of the areas, of land is less than the number that, under the regulations, is taken to be the number of tonnes of greenhouse gases removed by the forest stand or stands immediately before the area or areas of land became subject to the forest maintenance obligation;

         (8)    A person must not:

              (a)    aid, abet, counsel or procure a contravention of subsection (7); or

              (b)    induce, whether by threats or promises or otherwise, a contravention of subsection (7); or

              (c)    be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (7); or

              (d)    conspire with others to effect a contravention of subsection (7).

         (9)    Subsections (7) and (8) are civil penalty provisions.

       (10)    A declaration under subsection (2):

              (a)    comes into force when a copy of the declaration is given to the project manager for the project under subsection (5); and

              (b)    unless sooner revoked, ceases to be in force at whichever of the following times happens first:

                    (i)    when the penalty payable under section 287 in respect of the non-compliance with the requirement referred to in subparagraph (1)(a)(iv) or (b)(iv) (including any late payment penalty payable under section 288 in relation to the section 287 penalty) is paid in full;

                   (ii)    if the relevant section 209 declaration has never been varied—at the end of 100 years after the first occasion on which an Australian emissions unit was issued in relation to the project in accordance with this Part;

                  (iii)    if the relevant section 209 declaration has been varied—at the end of 100 years after the last occasion on which the declaration was varied.

       (11)    A declaration made under subsection (2) is not a legislative instrument.

226A   Variation or revocation of declaration of forest maintenance obligation

         (1)    This section applies if a declaration is in force under subsection 226(2) in relation to an area or areas of land.

         (2)    The Authority may, by writing, vary or revoke the declaration.

         (3)    The Authority may do so:

              (a)    on the Authority’s own initiative; or

              (b)    on application made to the Authority by a person.

         (4)    An application under paragraph (3)(b) must:

              (a)    be in writing; and

              (b)    be in a form approved, in writing, by the Authority; and

              (c)    be accompanied by the fee (if any) specified in the regulations.

         (5)    A fee specified under paragraph (4)(c) must not be such as to amount to taxation.

         (6)    If the Authority varies or revokes the declaration, the Authority must give a copy of the variation or revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right for the project—the person who holds the carbon sequestration right for the project; and

              (c)    each person who holds an eligible interest in the area, or any of the areas, of land; and

              (d)    a person specified in the regulations; and

              (e)    the relevant land registration official (within the meaning of section 237).

         (7)    A failure to comply with subsection (6) does not affect the validity of a variation or revocation.

         (8)    A variation or revocation of the declaration is not a legislative instrument.

226B   Revocation of declaration of forest maintenance obligation—voluntary relinquishment of Australian emissions units

         (1)    This section applies if:

              (a)    an area or areas of land are subject to a forest management obligation; and

              (b)    in the case of a single area—the area is not a project area of an eligible reforestation project; and

              (c)    in the case of 2 or more areas—none of the areas is a project area of an eligible reforestation project; and

              (d)    a person applies to the Authority for the revocation of the relevant subsection 226(2) declaration; and

              (e)    before the application was made, the applicant voluntarily relinquished a number of Australian emissions units in order to satisfy a condition for revocation of the declaration; and

               (f)    the number of relinquished units equals the net total number of Australian emissions units issued in relation to the project in accordance with this Part.

         (2)    The Authority must revoke the declaration.

         (3)    An application under paragraph (1)(d) must:

              (a)    be in writing; and

              (b)    be in a form approved, in writing, by the Authority.

(107)       Page 279 (before line 24), before Subdivision B, insert:

Subdivision AA—Forest restoration order

226C   Forest restoration order

         (1)    This section applies to one or more areas of land if:

              (a)    the area or areas of land are subject to a forest maintenance obligation; and

              (b)    a person has contravened, or is contravening, subsection 226(7) in relation to the area, or any of the areas, of land.

         (2)    The Authority may, by written notice given to the person, order the person to:

              (a)    if one or more forest stands are in existence on the area or areas of land—ensure that those forest stands are managed and maintained in accordance with the requirements set out in the order; or

              (b)    if no forest stands are in existence on the area or areas of land:

                    (i)    establish one or more forest stands on the area or areas of land in accordance with the requirements set out in the order; and

                   (ii)    ensure that those forest stands are managed and maintained in accordance with the requirements set out in the order.

         (3)    An order under subsection (2) is to be known as a forest restoration order.

         (4)    The Authority must not make a forest restoration order that is inconsistent with section 226.

         (5)    If the Authority makes a forest restoration order, the Authority must take all reasonable steps to ensure that a copy of the order is given to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right for the project—the person who holds the carbon sequestration right for the project; and

              (c)    each person who holds an eligible interest in the area, or any of the areas, of land; and

              (d)    a person specified in the regulations; and

              (e)    the relevant land registration official (within the meaning of section 237).

         (6)    A failure to comply with subsection (5) does not affect the validity of a forest restoration order.

         (7)    Unless sooner revoked, a forest restoration order ceases to be in force when the subsection 226(2) declaration that relates to the forest maintenance obligation mentioned in paragraph (1)(a) of this section ceases to be in force.

         (8)    A person must comply with a forest restoration order to the extent to which the person is capable of doing so.

         (9)    A person must not:

              (a)    aid, abet, counsel or procure a contravention of subsection (8); or

              (b)    induce, whether by threats or promises or otherwise, a contravention of subsection (8); or

              (c)    be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (8); or

              (d)    conspire with others to effect a contravention of subsection (8).

       (10)    Subsections (8) and (9) are civil penalty provisions.

       (11)    A forest restoration order is not a legislative instrument.

226D   Variation or revocation of forest restoration order

         (1)    This section applies if a forest restoration order is in force in relation to an area or areas of land.

         (2)    The Authority may, by writing, vary or revoke the order.

         (3)    The Authority may do so:

              (a)    on the Authority’s own initiative; or

              (b)    on application made to the Authority by a person.

         (4)    An application under paragraph (3)(b) must:

              (a)    be in writing; and

              (b)    be in a form approved, in writing, by the Authority; and

              (c)    be accompanied by the fee (if any) specified in the regulations.

         (5)    A fee specified under paragraph (4)(c) must not be such as to amount to taxation.

         (6)    If the Authority varies or revokes the order, the Authority must give a copy of the variation or revocation to:

              (a)    the project manager for the project; and

              (b)    if the project manager for the project does not hold the carbon sequestration right for the project—the person who holds the carbon sequestration right for the project; and

              (c)    each person who holds an eligible interest in the area, or any of the areas, of land; and

              (d)    a person specified in the regulations; and

              (e)    the relevant land registration official (within the meaning of section 237).

         (7)    A failure to comply with subsection (6) does not affect the validity of a variation or revocation.

         (8)    A variation or revocation of the order is not a legislative instrument.

(108)       Clause 227, page 279 (line 31), omit “subsection 226(2) or (4)”, substitute “subsection 226(7) or 226C(8)”.

(109)       Clause 227, page 280 (line 5), omit “subsection 226(2) or (4)”, substitute “subsection 226(7) or 226C(8)”.

(110)       Clause 232, page 282 (line 6), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(111)       Clause 232, page 282 (line 11), omit “or 219”, substitute “, 218A, 219 or 219A”.

(112)       Clause 232, page 282 (lines 23 to 27), omit subclause (5), substitute:

         (5)    Despite subsection (2), the Authority must not give a notice under that subsection later than:

              (a)    if the relevant section 209 declaration had never been varied—100 years after the first occasion on which an Australian emissions unit was issued in relation to the project in accordance with this Part; or

              (b)    if the relevant section 209 declaration had been varied—at the end of 100 years after the last occasion on which the declaration was varied.

(113)       Clause 233, page 283 (line 5), omit “holds the carbon sequestration right in relation to”, substitute “is the project manager for”.

(114)       Clause 233, page 283 (lines 24 to 28), omit subclause (5), substitute:

         (5)    Despite subsection (2), the Authority must not give a notice under that subsection later than:

              (a)    if the relevant section 209 declaration has never been varied—100 years after the first occasion on which an Australian emissions unit was issued in relation to the project in accordance with this Part; or

              (b)    if the relevant section 209 declaration has been varied—at the end of 100 years after the last occasion on which the declaration was varied.

(115)       Clause 234, page 284 (line 1) to page 285 (line 3), omit the clause.

(116)       Clause 235, page 286 (lines 4 to 10), omit subclause (1), substitute:

         (1)    This section applies to a person if the person ceases to hold the carbon sequestration right in relation to an eligible reforestation project.

(117)       Page 286 (after line 28), at the end of Division 11, add:

235A   Regulations may impose notification requirements

         (1)    The regulations may make provision requiring the project manager of an eligible reforestation project to notify a matter to the Authority.

         (2)    A matter specified in regulations made for the purposes of subsection (1) must be relevant to the operation of this Part.

         (3)    If the project manager of an eligible reforestation project is subject to a requirement under regulations made for the purposes of subsection (1), the project manager must comply with that requirement.

         (4)    A person must not:

              (a)    aid, abet, counsel or procure a contravention of subsection (3); or

              (b)    induce, whether by threats or promises or otherwise, a contravention of subsection (3); or

              (c)    be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (3); or

              (d)    conspire with others to effect a contravention of subsection (3).

         (5)    Subsections (3) and (4) are civil penalty provisions.

(118)       Clause 237, page 287 (lines 22 and 23), omit “an obligation is imposed by subsection 226(2) in relation to those areas of land”, substitute “those areas of land are subject to a forest maintenance obligation”.

(119)       Clause 239, page 289 (after line 16), after paragraph (1)(d), insert:

            (da)    the name of the person who is the project manager for the project; and

(120)       Clause 239, page 289 (lines 25 to 26), omit “an obligation is imposed by subsection 226(2) in relation to the project area or project areas”, substitute “the project area or project areas are subject to a forest maintenance obligation”.

(121)       Clause 239, page 289 (after line 30), after paragraph (1)(g), insert:

            (ga)    if:

                    (i)    the project manager for the project has requested the Authority that particular information about the project be set out in the Register of Reforestation Projects; and

                   (ii)    the request has not been withdrawn; and

                  (iii)    the requested information is of a kind specified in the regulations;

                       the requested information; and

(122)       Clause 239, page 290 (lines 1 to 3), omit “an obligation is imposed by subsection 226(2) in relation to one or more areas of land that were formerly a project area or project areas of an eligible reforestation project,”, substitute “one or more areas of land that were formerly a project area or projects areas of an eligible reforestation project are subject to a forest maintenance obligation,”.

(123)       Division 14, clauses 240 and 241, page 291 (line 1) to page 296 (line 14), omit the Division, substitute:

Division 14—Carbon sequestration right and forestry right

Subdivision A—Carbon sequestration right

239A   Carbon sequestration right in relation to a reforestation project

                  For the purposes of this Act, a person holds the carbon sequestration right in relation to a reforestation project if the person holds the carbon sequestration right in relation to the project area or each of the project areas.

240   Carbon sequestration right in relation to an area of land

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

              (a)    an area of land is Torrens system land; and

              (b)    a person holds a legal estate or interest in the area of land; and

              (c)    the estate or interest is registered under a Torrens system of registration; and

              (d)    as a result of holding the estate or interest, the person has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land;

         (2)    For the purposes of this Act, if:

              (a)    an area of land is Torrens system land; and

              (b)    a person has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land; and

              (c)    the right is registered under a Torrens system of registration; and

              (d)    under a law of a State or Territory, the right is, or is taken to be, an estate or interest in land;

         (3)    For the purposes of this Act, if:

              (a)    an area of land is Torrens system land; and

              (b)    a person has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land; and

              (c)    either:

                    (i)    the right is registered under a Torrens system of registration; or

                   (ii)    the area of land is Torrens system land, and the right is noted on the relevant certificate of title; and

              (d)    under a law of a State or Territory, the right runs with the relevant land;

         (4)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    a person (other than the State or Territory) holds a legal estate or interest in the area of land; and

              (d)    as a result of holding the estate or interest, the person has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land;

         (5)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    a person (other than the State or Territory) has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land; and

              (d)    under a law of the State or Territory, the right is, or is taken to be, an estate or interest in land;

         (6)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    an area of land is not Torrens system land; and

              (c)    a person (other than the State or Territory) has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land; and

              (d)    under a law of the State or Territory, the right runs with the relevant land; and

              (e)    it is not the case that under a law of the State or Territory, the right is, or is taken to be, an estate or interest in land;

         (7)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    as a result of the area of land being Crown land:

                    (i)    the State or Territory; or

                   (ii)    a statutory authority of the State or Territory;

                       has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on the area of land;

         (8)    For the purposes of this section, in determining whether a person has the exclusive legal right to obtain the benefit (whether present or future) of sequestration of carbon dioxide by trees on an area of land, it is immaterial whether that right extends to sequestration of carbon dioxide by the soil in which the trees are growing.

Subdivision B—Forestry right

241   Forestry right

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

              (a)    an area of land is Torrens system land; and

              (b)    a person holds a legal estate or interest in the area of land; and

              (c)    the estate or interest is registered under a Torrens system of registration; and

              (d)    as a result of holding the estate or interest, the person has the exclusive legal right to establish, manage and maintain a forest on the area of land;

         (2)    For the purposes of this Act, if:

              (a)    an area of land is Torrens system land; and

              (b)    a person has the exclusive legal right to establish, manage and maintain a forest on the area of land; and

              (c)    the right is registered under a Torrens system of registration; and

              (d)    under a law of a State or Territory, the right is, or is taken to be, an estate or interest in land;

         (3)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    a person (other than the State or Territory) holds a legal estate or interest in the area of land; and

              (d)    as a result of holding the estate or interest, the person has the exclusive legal right to establish, manage and maintain a forest on the area of land;

         (4)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    a person (other than the State or Territory) has the exclusive legal right to establish, manage and maintain a forest on the area of land; and

              (d)    under a law of the State or Territory, the right is, or is taken to be, an estate or interest in land;

         (5)    For the purposes of this Act, if:

              (a)    an area of land is Crown land in a State or Territory; and

              (b)    the area of land is not Torrens system land; and

              (c)    as a result of the area of land being Crown land:

                    (i)    the State or Territory; or

                   (ii)    a statutory authority of the State or Territory;

                       has the exclusive legal right to establish, manage and maintain a forest on the area of land;

(124)       Page 297 (before line 1), before Division 15, insert:

Division 14A—Eligible interest in an area of land

241A   Eligible interest in an area of land—Torrens system land

         (1)    This section applies to an area of land if the area is Torrens system land.

         (2)    For the purposes of this Act, if a person holds a forestry right in relation to the whole or a part of the area of land, the forestry right is an eligible interest held by the person in the area of land.

         (3)    For the purposes of this Act, if:

              (a)    a person holds an estate in fee simple, or any other legal estate or interest, in the whole or a part of the area of land; and

              (b)    the estate or interest is registered under a Torrens system of registration;

         (4)    For the purposes of this Act, if:

              (a)    under subsection (2) or (3), a person holds an eligible interest in an area of land; and

              (b)    another person:

                    (i)    is a mortgagee of the eligible interest, where the mortgage is registered under a Torrens system of registration; or

                   (ii)    a chargee of the eligible interest, where the charge is registered under a Torrens system of registration;

241B   Eligible interest in an area of land—Crown land that is not Torrens system land

         (1)    This section applies to an area of land in a State or Territory if the area of land:

              (a)    is Crown land; and

              (b)    is not Torrens system land.

         (2)    For the purposes of this Act, the Minister of the State or Territory who, under the regulations, is taken to be the Crown lands Minister of the State or Territory, holds an eligible interest in the area of land.

         (3)    For the purposes of this Act, if a person holds a forestry right in relation to the whole or a part of the area of land, the forestry right is an eligible interest held by the person in the area of land.

         (4)    For the purposes of this Act, if a person (other than the State or Territory) holds a legal estate or interest in the whole or a part of the area of land, the estate or interest is an eligible interest held by the person in the area of land.

         (5)    For the purposes of this Act, if:

              (a)    under subsection (3) or (4), a person holds an eligible interest in an area of land; and

              (b)    another person:

                    (i)    is a mortgagee of the eligible interest; or

                   (ii)    a chargee of the eligible interest;

(125)       Page 297 (after line 10), at the end of Part 10, add:

Division 16—Transition of reforestation projects from non-CPRS reforestation schemes

243   Request for determination

         (1)    If a person applies under section 205 for a declaration of a reforestation project as an eligible reforestation project, the application may be accompanied by a request for a determination under section 243C in relation to the project.

         (2)    A person is not entitled to make a request after the end of the 2-year period beginning at the commencement of this section.

         (3)    A request may be set out in the same document as the application under section 205.

243A   Form of request

         (1)    A request must:

              (a)    be in writing; and

              (b)    be in a form approved, in writing, by the Authority; and

              (c)    be accompanied by such information as is specified in the regulations; and

              (d)    be accompanied by such documents (if any) as are specified in the regulations.

         (2)    The approved form of request may provide for verification by statutory declaration of statements in requests.

243B   Further information

         (1)    The Authority may, by written notice given to a person who has made a request under section 243, require the person to give the Authority, within the period specified in the notice, further information in connection with the request.

         (2)    If the person breaches the requirement, the Authority may, by written notice given to the person:

              (a)    refuse to consider the request; or

              (b)    refuse to take any action, or any further action, in relation to the request.

243C   Determination

         (1)    This section applies if:

              (a)    a request under section 243 has been made for a determination under this section in relation to a reforestation project; and

              (b)    under section 209, the Authority has declared the reforestation project to be an eligible reforestation project.

         (2)    As soon as practicable after making the declaration, the Authority must consider the request and may, by written notice given to the person who made the request, determine that this Act has effect, in relation to the project, as if:

              (a)    the net total number of Australian emissions units mentioned in subsection 232(3) were increased by the number specified in the determination; and

              (b)    the net total number of Australian emissions units mentioned in paragraph 233(1)(d) were increased by the number specified in the determination.

         (3)    The Authority must not make a determination under subsection (2) unless the Authority is satisfied that the project area is or was, or the project areas are or were, covered by a prescribed non-CPRS reforestation scheme.

         (4)    In making a determination under subsection (2), the Authority must comply with the regulations.

         (5)    If the Authority refuses to make a determination under subsection (2), the Authority must give notice of the refusal to the person who made the request for the determination.

         (6)    A determination made under subsection (2) is not a legislative instrument.

(126)       Clause 278G, page 334 (after line 7), after subclause (1), insert:

      (1A)    The list must set out the location of each landfill facility on the list.

(127)       Clause 286, page 343 (after line 22), after paragraph (2)(d), insert:

            (da)    if the Australian emissions unit or units are being voluntarily relinquished in order to satisfy a condition for revocation of a subsection 226(2) declaration—set out a statement to that effect; and

(128)       Clause 286, page 345 (line 19), at the end of paragraph (6)(b), add “or”.

(129)       Clause 286, page 345 (after line 19), after paragraph (6)(b), insert:

            (ba)    an Australian emissions unit is voluntarily relinquished in order to satisfy a condition for revocation of a subsection 226(2) declaration;

(130)       Page 362 (after line 29), at the end of Part 18, add:

304A   Record-keeping requirements—preparation of reforestation report

         (1)    This section applies if a person:

              (a)    made a record of particular information; and

              (b)    used the information to prepare a reforestation report.

         (2)    The regulations may require the person to retain:

              (a)    the record; or

              (b)    a copy of the record;

         (3)    If a person is subject to a requirement under regulations made for the purposes of subsection (2), the person must comply with that requirement.

         (4)    A person must not:

              (a)    aid, abet, counsel or procure a contravention of subsection (3); or

              (b)    induce, whether by threats or promises or otherwise, a contravention of subsection (3); or

              (c)    be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (3); or

              (d)    conspire with others to effect a contravention of subsection (3).

         (5)    Subsections (3) and (4) are civil penalty provisions.

(131)       Clause 325, page 381 (line 10), omit “the Federal Court”, substitute “a court”.

(132)       Clause 337, page 387 (lines 7 and 8), omit paragraphs (1)(o) and (p), substitute:

              (o)    subsection 226(7);

              (p)    subsection 226C(8);

(133)       Clause 337, page 387 (after line 9), after paragraph (1)(q), insert:

            (qa)    subsection 235A(3);

(134)       Clause 337, page 387 (line 16), omit “304(2).”, substitute “304(2);”

(135)       Clause 337, page 387 (after line 16), at the end of subsection (1), add:

              (y)    subsection 304A(3).

(136)       Clause 338, page 388 (after line 6), after paragraph (2)(d), insert:

            (da)    subsection 235A(3);

(137)       Clause 346, page 397 (after table item 32), insert:

(138)       Clause 346, page 397 (table item 36), omit “or 214”, substitute “213A, 214, 214A, 214B or 214C”.

(139)       Clause 346, page 397 (table item 38), omit “218 or 219”, substitute “218, 218A, 219 or 219A”.

(140)       Clause 346, page 397 (after table item 41), insert:

(141)       Clause 346, page 397 (table item 42), omit the table item, substitute:

(142)       Clause 346, page 397 (table item 44), omit the table item, substitute:

(143)       Page 419 (after line 23), after clause 375, insert:

375A   Delegation by a State Minister or a Territory Minister

         (1)    A Minister of a State or Territory may, by writing, delegate any or all of his or her functions or powers under this Act to a person who:

              (a)    is an officer or employee of the State or Territory, as the case may be; and

              (b)    holds or performs the duties of an office or position that is equivalent to a position occupied by an SES employee in the Australian Public Service.

         (2)    In exercising powers under a delegation, the delegate must comply with any directions of the Minister of a State or the Minister of the Territory, as the case may be.

(144)       Clause 382, page 426 (lines 3 to 15), omit subclause (9), substitute:

         (9)    This Act and the associated provisions also have the effect they would have if each reference in this Act to a reforestation project were, by express provision, confined to:

              (a)    a reforestation project, where the project manager for the project is:

                    (i)    a constitutional corporation; or

                   (ii)    the Commonwealth; or

                  (iii)    an authority of the Commonwealth; or

              (b)    a reforestation project, where the project area is, or the project areas are:

                    (i)    in a Territory; or

                   (ii)    in a Commonwealth place.

      (9A)    This Act and the associated provisions also have the effect they would have if each reference in sections 226 and 226C to a person were, by express provision, confined to:

              (a)    a constitutional corporation; or

              (b)    the Commonwealth; or

              (c)    an authority of the Commonwealth.