Singapore legislation
Regulation 7
of Carbon Pricing (Carbon Tax, Carbon Credits and Registries) Regulations 2020
Regulation 7
Transactions involving fixed-price carbon credits
Subregulation 1
The following must be carried out through the EDMA system:
the submission of any application to purchase fixed‑price carbon credits for an FPCC registry account of a taxable facility of a registered person;
the submission of any application to transfer fixed‑price carbon credits from the FPCC registry account of a taxable facility of a registered person to the FPCC registry account of another taxable facility of the registered person;
the surrender of fixed‑price carbon credits from an FPCC registry account.
Subregulation 2
Where a registered person makes an application mentioned in paragraph (1)(a), the registered person must ensure that there are sufficient funds in the bank account linked to the FPCC registry account to pay for the fixed‑price carbon credits applied for.
Subregulation 3
The Agency must notify the registered person through the EDMA system whether or not an application mentioned in paragraph (1)(a) is successful.