Click here to load reader

Carbon Credits (Carbon Farming Initiative) Rule 2015 ... · PDF fileCarbon Credits (Carbon Farming Initiative) Rule 2015 i ... Act means the Carbon Credits (Carbon Farming ... corresponds

  • View
    219

  • Download
    5

Embed Size (px)

Text of Carbon Credits (Carbon Farming Initiative) Rule 2015 ... · PDF fileCarbon Credits (Carbon...

  • EXPOSURE DRAFT

    EXPOSURE DRAFT

    EXPOSURE DRAFT (24/11/2014)

    Carbon Credits (Carbon Farming Initiative)

    Rule 2015

    I, Greg Hunt, Minister for the Environment, make the following rule.

    Dated 2014

    Greg Hunt [DRAFT ONLY - NOT FOR SIGNATURE]

    Minister for the Environment

  • EXPOSURE DRAFT

    EXPOSURE DRAFT

    Carbon Credits (Carbon Farming Initiative) Rule 2015 i

    Contents

    Part 1Preliminary 1 1 Name ........................................................................................................................... 1 2 Commencement .......................................................................................................... 1 3 Authority ..................................................................................................................... 1 4 Definitions .................................................................................................................. 1 5 Service of documents .................................................................................................. 5

    Part 2Issue of Australian carbon credit units in respect of offsets projects 6 6 Form of application for certificate of entitlementinformation to accompany

    application ................................................................................................................... 6 7 Form of application for certificate of entitlementaudit requirements ...................... 6 8 Issue of certificate of entitlementeligibility requirements ....................................... 7

    Part 2APurchase of eligible carbon credit units by the Commonwealth 8 9 Duration of carbon abatement contracts ...................................................................... 8 10 Conduct of carbon abatement purchasing process ...................................................... 8

    Part 3Eligible offsets projects 9

    Division 1Application for declaration of eligible offsets project 9

    Subdivision APreliminary 9 11 Operation of this Division ........................................................................................... 9

    Subdivision BGeneral information and document requirements 9 12 Information and documents to accompany application ............................................... 9 13 Information to accompany certain ERF transitional applications ..............................11

    Subdivision CInformation and documents required to establish applicants

    identity 11 14 Information required to establish applicants identity ................................................11 15 Documents required to establish applicants identity .................................................13 16 Form etc. of documents ..............................................................................................15 17 Aboriginal persons or Torres Strait Islanders .............................................................15

    Division 2Declaration of eligible offsets project 17

    Subdivision AContent of declaration 17 18 Identification of project area ......................................................................................17

    Subdivision BCriteria for declaration 17 19 Eligibility requirementsconsent .............................................................................17 20 Additionality requirementsrequirements in lieu of government program

    requirement ................................................................................................................17

    Division 3Types of projects 20 21 Area-based emissions avoidance projects ..................................................................20

    Part 4Fit and proper person test 21 22 Operation of this Part .................................................................................................21 23 Events for individuals, bodies corporate and executive officers of bodies

    corporate ....................................................................................................................21 24 Events for individuals ................................................................................................21 25 Events for bodies corporate ........................................................................................22 26 Events for executive officers of bodies corporate ......................................................22

  • EXPOSURE DRAFT

    EXPOSURE DRAFT

    ii Carbon Credits (Carbon Farming Initiative) Rule 2015

    Part 6Reporting and notification requirements 23

    Division 1Minimum length of first and subsequent reporting periods 23 27 Operation of Division ................................................................................................23 28 Minimum number of months applicable to offsets reports .........................................23

    Division 2General requirements for offsets reports 24 29 Manner and form of offsets reports ............................................................................24 30 Information that must be set out in offsets reports .....................................................24 31 Documents that must accompany offsets reports .......................................................26

    Division 3Audit reports to accompany offsets reports 28

    Subdivision AOperation of this Division 28 32 Operation of this Division ..........................................................................................28

    Subdivision BAudit schedules 28 33 Audit schedules ..........................................................................................................28

    Subdivision CScheduled (initial and subsequent) audits 28 34 Initial audits ...............................................................................................................28 35 Subsequent auditsnumber ......................................................................................29 36 Subsequent auditsscope..........................................................................................30

    Subdivision DTriggered audits 31 37 Threshold audits .........................................................................................................31 38 Variance audits ..........................................................................................................32 39 Qualified or other conclusion audits ..........................................................................32

    Subdivision EConduct of audits 32 40 Conduct of audits .......................................................................................................32

    Division 4Notification requirements 34

    Subdivision ASignificant reversals 34 41 Significant reversals relating to natural disturbances .................................................34 42 Significant reversals relating to conduct ....................................................................34

    Subdivision BOther notification requirements 34 43 Operation of this Subdivision.....................................................................................34 44 Errors in offsets reports ..............................................................................................34 45 Acts causing reversal of removal of carbon dioxide ..................................................34 46 Changes relating to project proponent .......................................................................35 47 Changes relating to operation of project ....................................................................35

    Part 17Record-keeping and project monitoring requirements 36 48 Record-keeping requirementsgeneral .....................................................................36 49 Record-keeping requirementspreparation of offsets report ....................................37

    Schedule 1Documents required to establish applicants

    identity 38

    Part 1Documents for identifying individuals who are Australian citizens

    or residents 38 1 Category A documents ...............................................................................................38 2 Category B documents ...............................................................................................38

    Part 2Documents for identifying individuals who are not residents 40 3 Category A documents ...............................................................................................40 4 Category B documents ...............................................................................................40

  • EXPOSURE DRAFT

    EXPOSURE DRAFT

    Preliminary Part 1

    Section 1

    1 Carbon Credits (Carbon Farming Initiative) Rule 2015

    Part 1Preliminary

    1 Name

    This is the Carbon Credits (Carbon Farming Initiative) Rule 2015.

    2 Commencement

    This instrument commences on the day after it is registered.

    3 Authority

    This instrument is made under the Carbon Credits (Carbon Farming Initiative)

    Act 2011.

    4 Definitions

    (1) In this instrument:

    Act means the Carbon Credits (Carbon Farming Initiative) Act 2011.

    annual average abatement amount has the meaning given by subsection 35(8).

    approved form means a form approved, in writing, by the Regulator for a

    provision of this instrument.

    audit schedule has the meaning given by subsection 33(2).

    audit threshold means an audit threshold set in an audit thresholds instrument.

    audit thresholds instrument means an instrument made under subsection 35(4).

    authorised referee has the meaning given by subsection 17(4).

    category A document has the meaning given by:

    (a) for an individual who is a