20 Transactions must be registered

(1)

A transaction to issue, transfer, cancel, retire, surrender, convert, or replace units must be registered on the unit register.

(2)

However, the Registrar may not register a transaction on the unit register if—

(a)

the Registrar receives a notification from the international transaction log that there is a discrepancy with the transaction; or

(b)

the transaction is not submitted in the prescribed form; or

(c)

the prescribed fees (if any) have not been paid to the Registrar (unless arrangements for payment have been made in accordance with regulations made under this Act).

Section 20(1): amended, on 26 September 2008, by section 22(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Section 20(1): amended, on 19 November 2007, by section 15(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 20(2): substituted, on 19 November 2007, by section 15(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Section 20(2)(a): amended, on 26 September 2008, by section 22(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).