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Clean Energy (Charges—Excise) Bill 2011

Part 2 Charge for the issue of a carbon unit

   

8   Imposition of charge

Auction

             (1)  If:

                     (a)  a carbon unit is issued to a person; and

                     (b)  the unit is issued as the result of an auction;

charge is imposed on the issue of the unit.

             (2)  Charge imposed by subsection (1) is payable by the person.

             (3)  The amount of charge imposed by subsection (1) on the issue of a carbon unit is the amount equal to the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit, so long as:

                     (a)  in a case where:

                              (i)  the unit has the vintage year beginning on 1 July 2015; and

                             (ii)  regulations are in force for the purposes of section 8 of the Clean Energy (International Unit Surrender Charge) Act 2011 in relation to the surrender of an eligible international emissions unit in relation to the vintage year;

                            the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit is not less than:

                            (iii)  $15; or

                            (iv)  if a greater amount is prescribed for the purposes of this subparagraph—that greater amount; and

                     (b)  in a case where:

                              (i)  the unit has the vintage year beginning on 1 July 2016; and

                             (ii)  regulations are in force for the purposes of section 8 of the Clean Energy (International Unit Surrender Charge) Act 2011 in relation to the surrender of an eligible international emissions unit in relation to the vintage year;

                            the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit is not less than:

                            (iii)  $16; or

                            (iv)  if a greater amount is prescribed for the purposes of this subparagraph—that greater amount; and

                     (c)  in a case where:

                              (i)  the unit has the vintage year beginning on 1 July 2017; and

                             (ii)  regulations are in force for the purposes of section 8 of the Clean Energy (International Unit Surrender Charge) Act 2011 in relation to the surrender of an eligible international emissions unit in relation to the vintage year;

                            the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit is not less than:

                            (iii)  $17.05; or

                            (iv)  if a greater amount is prescribed for the purposes of this subparagraph—that greater amount; and

                     (d)  in a case where:

                              (i)  none of the above paragraphs apply; and

                             (ii)  under the regulations, an amount is taken to be the reserve charge amount in relation to the auction;

                            the amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit is not less than that reserve charge amount.

             (4)  Subsection (3) does not apply to an amount the person indicated or declared, in the course of the auction, that the person would be willing to pay by way of charge for the issue of the unit, unless the amount was accepted by the Regulator in the course of the auction.

             (5)  Subsection (1) imposes charge only so far as that charge is a duty of excise within the meaning of section 55 of the Constitution.

Fixed charge

             (6)  If:

                     (a)  a carbon unit is issued to a person; and

                     (b)  the unit is issued in accordance with section 100 of the Clean Energy Act 2011 (issue of units for a fixed charge);

charge is imposed on the issue of the unit.

             (7)  Charge imposed by subsection (6) is payable by the person.

             (8)  The amount of charge imposed by subsection (6) on the issue of a unit is the amount equal to the per unit charge set out in the application under subsection 100(1) of the Clean Energy Act 2011 for the issue of the unit.

             (9)  Subsection (6) imposes charge only so far as that charge is a duty of excise within the meaning of section 55 of the Constitution.