Clause 29

meets the prescribed criteria; and (b)is accepted as an eligible international carbon credit by the Agency in accordance with any direction of the Minister.Surrender of eligible international carbon credits33B.—

For the purpose of section 17(3A), the total number of eligible international carbon credits surrendered must not exceed the prescribed limit.(2) Despite subsection (1), the Minister may permit eligible international carbon credits to be surrendered in excess of the prescribed limit in any particular case or class of cases.(3) Where an eligible international carbon credit is surrendered in place of a fixed‑price carbon credit for the purpose of paying any tax in relation to a taxable facility, the registered person of the taxable facility is treated as having paid the tax to the extent of the carbon price of the fixed‑price carbon credit that the eligible international carbon credit has been surrendered in place of.No refunds, etc., on excess eligible international carbon credit surrendered33C. Where eligible international carbon credits are surrendered in excess of the prescribed limit under section 33B in connection with the tax chargeable on the reckonable GHG emissions of a taxable facility for any emissions year —

the number of eligible international carbon credits surrendered in excess of the prescribed limit are not treated as surrendered for the purpose of paying the tax for that emissions year, and may not be treated as having been surrendered for the purpose of paying any tax for any prior or subsequent emissions year; and

no claim may be brought against the Government or the Agency for any value represented by the number of eligible international carbon credits surrendered in excess of the prescribed limit. Division 6 — International Carbon Credits RegistryICC Registry and ICC registry accounts33D. The Agency may establish, maintain and manage an International Carbon Credits Registry, and open and close ICC registry accounts for registered persons in such registry for purposes connected with the surrender of eligible international carbon credits in place of fixed‑price carbon credits in connection with the payment of any tax under this Act.”.