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Wednesday, 6 July 2011
Page: 4249

Senator FEENEY (VictoriaParliamentary Secretary for Defence) (18:39): Firstly, I am able to confirm on behalf of the government that managed investment schemes are not able to participate. I understand that that is made clear in the draft regulations that can be found on the website and were also included, I think, as an appendix to the Senate committee report. Notwithstanding that, the government does oppose Senator Xenophon's amendments on the grounds that these amendments would require the minister to make decisions to exclude individual projects, and such a process would add significant regulatory complexity to the Carbon Farming Initiative and undermine participation. We are of the view that it would also create investment uncertainty for individual landholders. We have already committed to parliament that we will make regulations that would put forestry managed investment schemes on the negative list of projects and, as I said, they are excluded from the scheme.