Clause 2

delete the definition of “carbon credit” and substitute —“ “carbon credit” means a fixed‑price carbon credit or an eligible international carbon credit;”;

in the definition of “carbon price”, delete “carbon credit” and substitute “fixed‑price carbon credit”;

after the definition of “electronic transactions service”, insert —“ “eligible international carbon credit” has the meaning given by section 33A;”;

after the definition of “first emissions threshold”, insert —“ “fixed-price carbon credit” means a carbon credit mentioned in section 26;“fixed-price carbon credit registry account” or “FPCC registry account” means a registry account for a taxable facility of a registered person that is opened by the Agency in the Fixed‑Price Carbon Credits Registry under section 31;”;

after the definition of “greenhouse gas”, insert —“ “international carbon credit” means a certificate representing one tonne of GHG emissions reductions or removals measured in tCO2e, generated from any project or programme outside Singapore;“international carbon credit registry account” or “ICC registry account” means a registry account for a taxable facility of a registered person that is opened by the Agency in the International Carbon Credits Registry under section 33D;“Minister” means —

except as provided in paragraph (b), the Minister charged with the responsibility for sustainability and the environment; and

for the purposes of Division 1A of Part 5, the Minister charged with the responsibility for trade and industry;”; and

delete the definition of “registry account”.