Unit register

18 Form and content of unit register

(1)

The Registry must have a unit register that is—

(a)

in electronic form; and

(b)

accessible via the Registry’s Internet site; and

(c)

operated at all times, unless the Registrar suspends its operation (in whole or in part) under section 13 or as prescribed in regulations.

(2)

The unit register must contain—

(a)

a record of the holdings of units in holding accounts in New Zealand; and

(b)

the particulars of transactions, including, but not limited to,—

(i)

the issue, transfer, retirement, surrender, conversion, and cancellation of units; and

(ii)

the carry-over of assigned amount units, certified emission reduction units, and emission reduction units; and

(iii)

the replacement of long-term certified emission reduction units and temporary certified emission reduction units; and

(c)

any other matters that are required to be registered under this Act or regulations made under this Act.

(3)

A unit recorded in the unit register is—

(a)

indivisible with respect to the issue, holding, transfer, retirement, replacement, surrender, carry-over, cancellation, and conversion of a unit within the unit register; and

(b)

transferable, subject to any regulations made under this Act,—

(i)

within the unit register; or

(ii)

between the unit register and overseas registries.

Section 18(1)(b): amended, on 19 November 2007, by section 13(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 18(2)(b)(i): amended, on 26 September 2008, by section 16(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Section 18(2)(b)(i): amended, on 19 November 2007, by section 13(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 18(2)(b)(iii): added, on 19 November 2007, by section 13(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 18(3): added, on 19 November 2007, by section 13(4) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 18(3)(a): substituted, on 26 September 2008, by section 16(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).