CARBON PRICING
31
Division 4—Carbon Credits Registry
Opening of registry account
31. For the purpose of Division 3, the Agency must open, for each taxable facility of a registered person, a registry account in the Carbon Credits Registry and assign a unique identifier to the registry account.
Suspension of registry account
32.—(1) The Agency may suspend a registry account for a taxable facility of a registered person for a period not exceeding one year, if the Agency reasonably believes that—
- (a) any information given in relation to the registration of the taxable facility was false or misleading in any material particular;
- (b) there has been unauthorised access to the account;
- (c) the account is used or intended to be used for purposes of a criminal offence; or
- (d) any carbon credit in the account was obtained through fraud or any other unlawful means.
(2) For so long as a registry account is suspended—
- (a) no carbon credits may be purchased and credited into the account;
- (b) no carbon credits in the account may be transferred to another registry account under section 27(2) or surrendered under section 28; and
- (c) section 17(2)(b) applies to any tax required to be paid during the period of suspension.
(3) If the Agency is satisfied that there is good reason to do so, the Agency may—
- (a) extend the period of the suspension for any further period or periods, each not exceeding one year; or
- (b) lift the suspension before the period of suspension expires.
