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Tuesday, 8 November 2011
Page: 8485


Senator EGGLESTON (Western Australia) (10:53): This carbon tax, we are told, will transition to an emissions trading scheme in 2015. I would like to ask a couple of questions relating to the administration of an ETS. Firstly, how will the emissions trading scheme be regulated? Will, for example, the activities of the emissions trading scheme fall under APRA for regulation? It is really going to involve large financial transactions and the verification of—

The TEMPORARY CHAIRMAN ( Senator Boyce ): Senator Eggleston, these questions are not relevant to the amendment that is currently before us. Are you able to ask them later?

Senator EGGLESTON: No, I do not think I will have time, and other more general questions have been asked, Madam Temporary Chair.

The TEMPORARY CHAIRMAN: Your questions do need to be relevant to the amendment before the chair, which is around voluntary action to reduce emissions. Perhaps you might like to consider them in that respect.

Senator EGGLESTON: I just wondered how voluntary action will be possible to protect the value of carbon credits traded under the emissions trading scheme or whether the assistance of a body such as APRA might be needed.