Carbon Pricing Act 2018 · 2020 Revised Edition · Part 5 · Carbon Pricing
32. Suspension of fixed-price carbon credit registry account
Feedback & supportLast amended by an amending law of 2022.
The Agency may suspend an FPCC registry account for a taxable facility of a registered person for a period not exceeding one year, if the Agency reasonably believes that —
Agency
“Agency” means the National Environment Agency established by the National Environment Agency Act 2002;
any information given in relation to the registration of the taxable facility was false or misleading in any material particular;
there has been unauthorised access to the account;
the account is used or intended to be used for purposes of a criminal offence; or
any fixed‑price carbon credit in the account was obtained through fraud or any other unlawful means.
For so long as an FPCC registry account is suspended —
FPCC registry account
“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;
no fixed‑price carbon credits may be purchased and credited into the account;
no fixed‑price carbon credits in the account may be transferred to another FPCC registry account under section 27(2) or surrendered under section 28; and
section 17(2)(b) applies to any tax required to be paid during the period of suspension.
If the Agency is satisfied that there is good reason to do so, the Agency may —
extend the period of the suspension for any further period or periods, each not exceeding one year; or
lift the suspension before the period of suspension expires.