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Carbon Credits (Carbon Farming Initiative) Bill 2011

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7129

2010-2011

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

Carbon Credits (Carbon Farming Initiative) Bill 2011

 

 

( 1 )     Clause 5 , page 12 (after line 9) , after the definition of general law land , insert:

Greenhouse Friendly Initiative means the Greenhouse Friendly Initiative for the reduction of greenhouse gases established by the Commonwealth and administered by the Department administered by the Minister administering this Act.

[non-CFI offsets scheme]

( 2 )     Clause 5 , page 17 (after line 9) , after the definition of net total number , insert:

New South Wales Greenhouse Gas Scheme means the greenhouse gas reduction scheme established by Part 8A of the Electricity Supply Act 1995 (NSW) .

[non-CFI offsets scheme]

( 3 )     Clause 5 , page 18 (lines 23 and 24) , omit the definition of prescribed non-CFI offsets scheme , substitute:

prescribed non-CFI offsets scheme means:

                     (a)  the New South Wales Greenhouse Gas Scheme; or

                     (b)  the Greenhouse Friendly Initiative; or

                     (c)  a scheme prescribed by the regulations for the purposes of this paragraph.

[non-CFI offsets scheme]

(4)     Clause 95 , page 124 (lines 11 to 19) , omit subclause ( 2 ), substitute:

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

                     (a)  if the project is a sequestration project:

                              (i)  paragraphs 89(1)(b), 90(1)(b) and 91(1)(b) had not been enacted; and

                             (ii)  the net total number of Australian carbon credit units mentioned in subsections 89(3), 90(3) and 91(3) were increased by the number specified in the determination; and

                     (b)  if the project is a landfill legacy emissions avoidance offsets project that was accredited under the New South Wales Greenhouse Gas Scheme or the Greenhouse Friendly Initiative—the baseline for the purpose of making a methodology determination under section 106 is 0%.

[non-CFI offsets scheme]