7173

2010-2011

The Parliament of the

Commonwealth of Australia

THE SENATE

Clean Energy Bill 2011

(Amendments to be moved by Senator Birmingham on behalf of the Opposition and Senator Xenophon in committee of the whole)

(1)     Clause  111 , page 145 (lines 6 to 17) , omit subclause ( 2 ), substitute:

Issue of units

             (2)  The Regulator must not issue one or more carbon units to a person as the result of an auction unless the person has lodged a deposit that relates to the total amount of charges payable for, or imposed on, the issue of the units.

Note:          For rules about deposits, see section 113.

When balance of charge for a unit is payable

          (2A)  The balance of the charge for the issue of a carbon unit is payable in the year corresponding to the vintage year of the carbon unit.

[when charge payable]

( 2 )     Clause 113 , page 149 (after line 25) , after subclause ( 4 ), insert:

          (4A)  A deposit specified under paragraph (2)(n) must not be greater than 10% of the total amount of charges payable for, or imposed on, the issue of carbon units to a person as the result of an auction.

[when charge payable]