This Act comes into force on a date to be appointed by the Governor-General by Order in Council; and 1 or more orders may be made bringing different provisions into force on different dates.
Section 2: section 1, Part 1, subpart 3 of Part 2, and Part 3 (other than section 50(1)(a) and (c)–(h) and section 51) brought into force, on 1 August 2003, by the Climate Change Response Act Commencement Order 2003 (SR 2003/151).
Section 2: subparts 1 and 2 of Part 2 and sections 50(1)(a) and (c)–(h) and 51 brought into force, on 19 November 2007, by the Climate Change Response Act Commencement Order 2007 (SR 2007/336).

2A Application of Schedules 3 and 4

(1) Any provision in this Act that imposes an obligation on, or provides an entitlement to, a person in respect of an activity listed in Schedule 3 or 4—
- (a) does not apply to that person unless—
  - (i) the Part or subpart in Schedule 3 or 4 in which the activity is listed applies; and
  - (ii) the person, if carrying out an activity listed in subpart 2 or 4 of Part 5 of Schedule 3, falls within a class of persons prescribed in an Order in Council that applies that subpart; and
- (b) applies subject to sections 2C(3), 217 to 221, and 222A to 222D.
(2) Part 1 of Schedule 3 and Parts 1 and 3 of Schedule 4 apply on and after 1 January 2008.
(3) Part 2 of Schedule 3 and Part 4 of Schedule 4 apply on and after 1 January 2009.
(4) Part 3 of Schedule 3, subpart 1 of Part 4 of Schedule 3, and subpart 1 of Part 2 of Schedule 4 apply on and after 1 January 2010.
(5) Subpart 1 of Part 5 of Schedule 3 applies on and after 1 January 2011.
(6) Subpart 3 of Part 5 of Schedule 3 applies on and after 1 January 2011.
(7) Subpart 2 of Part 4 of Schedule 3, Part 6 of Schedule 3, and subpart 3 of Part 2 of Schedule 4 apply on and after 1 January 2011.
(8) Subpart 2 of Part 5 of Schedule 3 applies on and after a date appointed by the Governor-General by Order in Council.
(9) Subpart 4 of Part 5 of Schedule 3 applies on and after a date appointed by the Governor-General by Order in Council.
(10) [Repealed]
(11) [Repealed]
(12) [Repealed]
(13) [Repealed]
(14) Subpart 2 of Part 2 of Schedule 4 applies on and after a date to be appointed by the Governor-General by Order in Council.
(15) [Repealed]
(16) [Repealed]
(17) [Repealed]
(18) [Repealed]
(19) [Repealed]
Section 2A: inserted, on 26 September 2008, by section 4 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 2A(1): substituted, on 8 December 2009, by section 4(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(5): amended, on 8 December 2009, by section 4(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(6): amended, on 8 December 2009, by section 4(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(8): amended, on 8 December 2009, by section 4(4) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(9): amended, on 8 December 2009, by section 4(5) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(10): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(11): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(12): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(13): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(15): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(16): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(17): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(18): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2A(19): repealed, on 8 December 2009, by section 4(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

2B Orders in Council in relation to Part 5 of Schedule 3

(1) An Order in Council made under section 2A(8) or (9) appointing a date on and after which subpart 2 or 4 of Part 5 of Schedule 3 applies must—
- (a) be made on the recommendation of the Minister responsible for the administration of this Act; and
- (b) appoint a date that is 1 January in a year; and
- (c) be made at least 1 year before the date appointed in the Order in Council; and
- (d) not appoint a date earlier than 1 January 2013.
(2) One or more Orders in Council made under section 2A(8) or (9) may provide that subpart 2 or 4 of Part 5 of Schedule 3 applies—
- (a) specifically to 1 or more classes of persons who carry out an activity listed in subpart 2 or 4 of Part 5 of Schedule 3 on and after a date appointed in the order; or
- (b) generally to all persons who carry out an activity listed in subpart 2 or 4 of Part 5 of Schedule 3 on and after a date appointed in the order.
(3) Before recommending that an Order in Council be made under section 2A(8) or (9), the Minister must have regard to—
- (a) the need for the EPA to be able to verify information contained in emissions returns of the persons who will become participants in respect of an activity listed in subpart 2 or 4 of Part 5 of Schedule 3 by operation of the order; and
- (b) the likelihood that, as a result of becoming participants by operation of the order, persons carrying out an activity listed in subpart 2 or 4 of Part 5 of Schedule 3 will reduce their emissions; and
- (c) the desirability of minimising—
  - (i) the compliance and administration costs of persons who will become participants in respect of an activity listed in subpart 2 or 4 of Part 5 of Schedule 3 by operation of the order; and
  - (ii) the administration costs of the Crown in administering the greenhouse gas emissions trading scheme established under this Act.
(4) Before recommending the making of an Order in Council under section 2A(8) or (9), the Minister must consult, or be satisfied that the chief executive has consulted, persons (or their representatives) that appear to the Minister or the chief executive likely to have an interest in the order.
Section 2B: inserted, on 8 December 2009, by section 5 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2B(3)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

2C Effect of Orders in Council in relation to Part 5 of Schedule 3

(1) This section applies if an Order in Council made under section 2A(8) or (9) has the effect that subparts 1 and 2 of Part 5 of Schedule 3, or subparts 3 and 4 of Part 5 of Schedule 3, apply at the same time.
(2) If this section applies, then regulations made under section 163(1) may require—
- (a) a person carrying out an activity listed in subpart 1 of Part 5 of Schedule 3 and a person carrying out an activity listed in subpart 2 of Part 5 of Schedule 3 to—
  - (i) collect data or other information relating to the same synthetic fertiliser; and
  - (ii) calculate emissions in respect of emissions relating to the same synthetic fertiliser; or
- (b) a person carrying out an activity listed in subpart 3 of Part 5 of Schedule 3 and a person carrying out an activity listed in subpart 4 of Part 5 of Schedule 3 to—
  - (i) collect data or other information relating to the same ruminant animals, pigs, horses, or poultry; and
  - (ii) calculate emissions relating to the same ruminant animals, pigs, horses, or poultry.
(3) However,—
- (a) on and after the date from which the person carrying out an activity listed in subpart 2 of Part 5 of Schedule 3 is required to surrender units for emissions relating to the fertiliser, this Act no longer applies to the person carrying out the activity listed in subpart 1 of Part 5 of Schedule 3 in relation to the fertiliser; and
- (b) on and after the date from which the person carrying out an activity listed in subpart 4 of Part 5 of Schedule 3 is required to surrender units for emissions relating to the ruminant animals, pigs, horses, or poultry, this Act no longer applies to the person carrying out the activity listed in subpart 3 of Part 5 of Schedule 3 in relation to those ruminant animals, pigs, horses, or poultry.
(4) If an Order in Council is made under—
- (a) section 2A(8) that has the effect of applying subpart 2 of Part 5 of Schedule 3 to all persons who carry out an activity listed in that subpart from a date appointed in that order, then section 2A(5) and subpart 1 of Part 5 of Schedule 3 expire and are repealed on the date from which all persons carrying out an activity listed in subpart 2 of Part 5 of Schedule 3 are liable to surrender units in respect of emissions from the activity:
- (b) section 2A(9) that has the effect of applying subpart 4 of Part 5 of Schedule 3 to all persons who carry out an activity listed in that subpart from a date appointed in that order, then section 2A(6) and subpart 3 of Part 5 of Schedule 3 expire and are repealed on the date from which all persons carrying out an activity listed in subpart 4 of Part 5 of Schedule 3 are liable to surrender units in respect of emissions from the activity.
(5) If, by operation of subsection (3)(a) or (b) or (4)(a) or (b), this Act no longer applies to a person carrying out an activity in subpart 1 or 3 of Part 5 of Schedule 3, or an activity listed in subpart 1 or 3 of Part 5 of Schedule 3 is repealed, then—
- (a) section 54(4) applies, with any necessary modifications, to any person who has ceased, by operation of the provision, to be a participant in respect of that activity; and
- (b) the person is not required to comply with section 59, but the EPA may, for the purposes of section 59(2), determine that the person has ceased to carry out the activity.
Section 2C: inserted, on 8 December 2009, by section 5 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 2C(5)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

3 Purpose

(1) The purpose of this Act is to—
- (a) enable New Zealand to meet its international obligations under the Convention and the Protocol, including (but not limited to)—
  - (i) its obligation under Article 3.1 of the Protocol to retire Kyoto units equal to the number of tonnes of carbon dioxide equivalent of human-induced greenhouse gases emitted from the sources listed in Annex A of the Protocol in New Zealand in the first commitment period; and
  - (ii) its obligation to report to the Conference of the Parties via the Secretariat under Article 7 of the Protocol and Article 12 of the Convention:
- (b) provide for the implementation, operation, and administration of a greenhouse gas emissions trading scheme in New Zealand that supports and encourages global efforts to reduce greenhouse gas emissions by assisting New Zealand to meet its international obligations under the Convention and the Protocol, and by reducing New Zealand's net emissions below business-as-usual levels.
(2) [Repealed]
(2) A person who exercises a power or discretion, or carries out a duty, under this Act must exercise that power or discretion, or carry out that duty, in a manner that is consistent with the purpose of this Act.
(3) For the purposes of this section, business-as-usual levels means the levels of New Zealand's greenhouse gas emissions, estimated by the Minister or the EPA at any particular point in time, as if the greenhouse gas emissions trading scheme provided for under this Act had not been implemented.
Section 3(1): substituted, on 26 September 2008, by section 5 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 3 first subsection (2): repealed, on 8 December 2009, by section 6(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 3(3): added, on 8 December 2009, by section 6(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 3(3): amended, on 5 December 2011, pursuant to section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

3A Treaty of Waitangi (Te Tiriti o Waitangi)

In order to recognise and respect the Crown’s responsibility to give effect to the principles of the Treaty of Waitangi,—
- (a) with respect to section 2B (which relates to Orders in Council in relation to Part 5 of Schedule 3), before recommending the making of an Order in Council under section 2A(8) or (9), the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the order:
- (b) with respect to section 75 (which relates to consultation on a pre-1990 forest land allocation plan), before making a recommendation under section 72, the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the pre-1990 forest land allocation plan:
- (c) with respect to section 76 (which relates to consultation on a fishing allocation plan), before making a recommendation under section 74, the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the fishing allocation plan:
- (d) with respect to section 161 (which relates to the appointment and conduct of a review panel),—
  - (i) the Minister must, when appointing members to a review panel under section 160(6), ensure that the review panel has at least 1 member who, in the Minister’s opinion, has the appropriate knowledge, skill, and experience relating to the principles of the Treaty of Waitangi and tikanga Māori to conduct the review; and
  - (ii) the review panel must consult with the representatives of iwi and Māori that appear to the panel likely to have an interest in the review; and
  - (iii) the terms of reference for the review panel must incorporate reference to the principles of the Treaty of Waitangi:
- (e) with respect to section 161G (which relates to regulation-making powers in relation to eligible agricultural activities), before recommending the making of a regulation under section 161G(1), the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the regulation:
- (f) with respect to section 162 (which relates to regulations adding further activity to Part 2 of Schedule 4), before recommending the making of a regulation under section 162(1), the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the regulation:
- (g) with respect to section 163 (which relates to regulations relating to methodologies and verifiers), before recommending the making of a regulation under section 163(1), the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the regulation:
- (h) with respect to section 164 (which relates to regulations relating to unique emissions factors), before recommending the making of a regulation under section 164, the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the regulation:
- (i) with respect to section 224 (which relates to the gazetting of targets), before the Minister may set, amend, or revoke a target, the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the target:
- (j) with respect to section 225 (which relates to regulations relating to targets), before recommending the making of a regulation under section 225(1), the Minister must consult, or be satisfied that the chief executive has consulted, representatives of iwi and Māori that appear to the Minister or chief executive likely to have an interest in the regulation.
Section 3A: inserted, on 8 December 2009, by section 7 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 3A(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

4 Interpretation

(1) In this Act, unless the context otherwise requires,—
account number means a unique account number assigned to a holding account by the Registrar under section 15(1)(a)
allocate, in relation to New Zealand units,—
- (a) means the allocation or provisional allocation of New Zealand units; but
- (b) does not include the transfer of New Zealand units
allocation plan means an allocation plan issued under section 70
animal material has the same meaning as in section 4(1) of the Animal Products Act 1999
animal product has the same meaning as in section 4(1) of the Animal Products Act 1999
animal welfare export certificate means an animal welfare export certificate issued under section 46 of the Animal Welfare Act 1999
approved overseas unit means a unit, other than a Kyoto unit,—
- (a) issued by an overseas registry; and
- (b) prescribed as a unit that may be transferred to accounts in the Registry
assigned amount unit means a unit issued out of a Party's initial assigned amount and designated as an assigned amount unit by—
- (a) the Registry; or
- (b) an overseas registry of a Party listed in Annex B of the Protocol
associated person has the meaning given to it by subsection (3)
Australian eligible industrial activity means an activity that is, or is likely to be, specified as an emissions-intensive trade-exposed activity in respect of which a person may be allocated emissions units under Australian law
cancel, in relation to a unit, means the transfer of the unit to a cancellation account in the Registry with the effect specified in section 18CA(1)
carbon accounting area means an area of post-1989 forest land that—
- (a) is defined by a person who is registered or has applied to register as a participant under section 57 in relation to an activity listed in Part 1 of Schedule 4; and
- (b) meets any relevant criteria specified in regulations made under this Act; or
- (c) is constituted as a carbon accounting area by operation of section 188(7)(b) or 192(3)(b)
carbon dioxide equivalent, in relation to a gas in Annex A of the Protocol, means the amount, in tonnes, of carbon dioxide that would produce the same global warming as the amount of that gas, calculated by multiplying the tonnes of that gas by its global warming potential (as determined under Article 5.3 of the Protocol)
carry-over means the transfer of an assigned amount unit, certified emission reduction unit, or emission reduction unit from the relevant commitment period to a subsequent commitment period so that the unit remains capable of being transferred, retired, cancelled, or carried-over in that subsequent commitment period
CDM registry means the registry established and maintained as the clean development mechanism registry under Article 12 of the Protocol
certified emission reduction unit means a unit derived from a clean development mechanism project, issued by the CDM registry, and designated as a certified emission reduction unit by the CDM registry
chief executive means the chief executive of the department that is, with the authority of the Prime Minister, responsible for the administration of this Act
clean development mechanism project means a project undertaken under Article 12 of the Protocol for the benefit of a Party not listed in Annex I of the Convention
clear, in relation to a tree,—
- (a) includes—
  - (i) felling, harvesting, burning, removing by mechanical means, spraying with a herbicide intended to kill the tree, or undertaking any other form of human activity that kills the tree; and
  - (ii) felling, burning, killing, uprooting, or destroying by a natural cause or event; but
- (b) does not include pruning or thinning
coal has the same meaning as in section 2(1) of the Crown Minerals Act 1991
commitment period reserve means a number of Kyoto units equal to the lesser of—
- (a) 90% of the assigned amount units issued out of New Zealand's initial assigned amount; or
- (b) 5 times the number of tonnes of carbon dioxide equivalent of human-induced greenhouse gases emitted from the sources listed in Annex A of the Protocol in the most recent year, as estimated by the most recent inventory of greenhouse gases that has been reported in accordance with Article 7 of the Protocol and reviewed in accordance with Article 8 of the Protocol
Conference of the Parties means the Conference of the Parties to the Convention
consolidated group means a consolidated group formed under section 150
Convention—
- (a) means the United Nations Framework Convention on Climate Change done at New York on 9 May 1992, a copy of the English text of which is set out in Schedule 1; and
- (b) includes any amendments made to the Convention that are, or will become, binding on New Zealand from time to time
conversion account means an account in the Registry used for the purpose of converting New Zealand units into assigned amount units
convert, in relation to a New Zealand unit, means the transfer of the unit to a conversion account in the Registry with the effect specified in section 18CA(5)
Crown conservation contract means a written agreement with the Crown (including a concession granted in accordance with Part 3B of the Conservation Act 1987) for the removal and storage of greenhouse gases on post-1989 forest land that is Crown land managed or administered under the Conservation Act 1987 or any of the Acts listed in Schedule 1 of that Act
Crown holding account—
- (a) means a holding account that is established and held by the Crown in accordance with a direction of the Minister of Finance under section 6; and
- (b) does not include a holding account opened by any other person on behalf of the Crown under section 18A
Crown land has the same meaning as in section 2(1) of the Crown Minerals Act 1991
dairy processing, in relation to milk or colostrum, means the first occasion, other than at a farm dairy, on which the milk or colostrum is made subject to heat treatment, freezing, separation, concentration, filtering, blending, extraction of milk components, and the addition of other material, including (but not limited to) food, ingredients, additives, or processing aids as defined in the Food Standards Code
deforest, in relation to forest land,—
- (a) means to convert forest land to land that is not forest land; and
- (b) includes clearing forest land, where section 179 applies
designated operational entity means an operational entity designated under Article 12(5) of the Protocol
disposal facility means any facility, including a landfill,—
- (a) at which waste is disposed; and
- (b) at which the waste disposed includes waste from a household that is not entirely from construction, renovation, or demolition of a house; and
- (c) that operates, at least in part, as a business to dispose of waste; but
- (d) does not include a facility, or any part of a facility, at which waste is combusted for the purpose of generating electricity or industrial heat
dispose, in relation to waste,—
- (a) means—
  - (i) the final or more than short-term deposit of waste into or onto land set apart for that purpose; or
  - (ii) the incineration of waste by deliberately burning the waste to destroy it; but
- (b) does not include any deposit of biosolids for rehabilitation or other beneficial purposes
document means a document in any form whether or not signed or initialled or otherwise authenticated by its maker; and includes—
- (a) any writing on any material:
- (b) any information recorded or stored by means of any tape recorder, computer, or any other device; and any material subsequently derived from information so recorded or stored:
- (c) any label, marking, or other writing that identifies or describes any thing of which it forms part, or to which it is attached by any means:
- (d) any book, map, plan, graph, or drawing:
- (e) any photograph, film, negative, tape, or other device in which 1 or more visual images are embodied so as to be capable (with or without the aid of some other equipment) of being reproduced
elect, in relation to a sink activity under Article 3.4 of the Protocol, means that a Party has advised the Secretariat of its intention to report to the Secretariat on that activity for the purpose of compliance with that Party's obligations under Article 3.1 of the Protocol
eligible activity means—
- (a) an eligible agricultural activity; or
- (b) an eligible industrial activity
eligible agricultural activity means an activity or subclass of an activity listed in Part 5 of Schedule 3 in respect of which a person is required to surrender units for emissions under this Act
eligible industrial activity means an activity that is specified as an eligible industrial activity in regulations made under section 161A
eligible land means pre-1990 forest land (other than land that has been declared to be exempt land under section 183 or 184)
eligible person means a person who meets any requirements for receiving an allocation of New Zealand units specified in, as relevant,—
- (a) section 80(1):
- (b) section 85(1):
- (c) any regulations made under this Act:
- (d) an allocation plan
emission reduction unit means a unit derived from a joint implementation project, issued by converting an assigned amount unit or removal unit, and designated as an emission reduction unit by—
- (a) the Registry; or
- (b) an overseas registry of a Party listed in Annex B of the Protocol
emissions, in relation to an activity listed in Schedule 3 or 4, means carbon dioxide equivalent emissions of greenhouse gases from the activity
emissions return means—
- (a) an annual emissions return submitted under section 65; or
- (b) an emissions return submitted under section 66; or
- (c) a final emissions return submitted under section 118; or
- (d) an emissions return submitted under section 187, 189, 191, or 193
entity, in relation to a group, means a reporting entity or reporting entity’s subsidiary, within the meaning of section 2(1) of the Financial Reporting Act 1993
Environmental Protection Authority or EPA means the Environmental Protection Authority established by section 7 of the Environmental Protection Authority Act 2011
executive board means the board established under Article 12(4) of the Protocol
exempt land—
- (a) means pre-1990 forest land that has been declared to be exempt land—
  - (i) under section 183; or
  - (ii) under section 184 and in respect of which the conditions in section 184(6) have been met; but
- (b) does not include any forest land that met the definition in paragraph (a), but has been deforested, and in respect of which the number of units that would have been required to be surrendered in relation to an activity listed in Part 1 of Schedule 3, had the land not been exempt land, have been surrendered under section 187(2)
exotic forest species means a forest species that is not an indigenous forest species
expire or expiry, in relation to a long-term certified emission reduction unit or a temporary certified emission reduction unit, means a unit that is no longer capable of being—
- (a) transferred to any account other than the general cancellation account; or
- (b) retired
export has a corresponding meaning to exportation in section 2(1) of the Customs and Excise Act 1996
farm dairy has the same meaning as in section 4(1) of the Animal Products Act 1999
financial year has the same meaning as in section 2(1) of the Public Finance Act 1989
first commitment period means the commitment period from 1 January 2008 to 31 December 2012 (inclusive)
fishing allocation plan means the allocation plan that provides for the matters specified in section 74
Food Standards Code has the same meaning as in section 4(1) of the Animal Products Act 1999
forest land—
- (a) means an area of land of at least 1 hectare that has, or is likely to have, tree crown cover from forest species of more than 30% in each hectare; and
- (b) includes an area of land that temporarily does not meet the requirements specified in paragraph (a) because of human intervention or natural causes but that is likely to revert to land that meets the requirements specified in paragraph (a); but
- (c) does not include—
  - (i) a shelter belt of forest species, where the tree crown cover has, or is likely to have, an average width of less than 30 metres; or
  - (ii) an area of land where the forest species have, or are likely to have, a tree crown cover of an average width of less than 30 metres, unless the area is contiguous with land that meets the requirements specified in paragraph (a) or (b)
forest species means a tree species capable of reaching at least 5 metres in height at maturity in the place where it is located, but does not include tree species grown or managed primarily for the production of fruit or nut crops
general cancellation account means an account in the Registry for the purpose of holding units on behalf of the Crown that are cancelled for any reason other than sink activities being a source of emissions or a determination that New Zealand is not in compliance with Article 3.1 of the Protocol
greenhouse gas means a gas listed in Annex A of the Protocol
group has the same meaning as in section 2(1) of the Financial Reporting Act 1993
holding account means an account in the Registry for the purpose of holding units that have not been retired, surrendered, converted, or cancelled
import has a corresponding meaning to importation in section 2(1) of the Customs and Excise Act 1996
indigenous forest species means a forest species that occurs naturally in New Zealand or has arrived in New Zealand without human assistance
indirect greenhouse gas—
- (a) means a gas that—
  - (i) reacts with other gases to form a greenhouse gas; or
  - (ii) changes the chemistry of the atmosphere in a way that increases the lifetime of other greenhouse gases; and
- (b) includes, but is not limited to, carbon monoxide, nitrogen oxides, non-methane volatile organic compounds, and sulphur dioxide
industrial or trade premises means any premises used for any industrial or trade purposes, or any premises used for the storage, transfer, treatment, or disposal of waste materials or for other waste-management purposes; but does not include any production land
initial assigned amount means the allowance of emissions of greenhouse gas assigned to a Party listed in Annex B of the Protocol, measured in tonnes of carbon dioxide equivalent, and calculated under Articles 3.7 and 3.8 of the Protocol
international transaction log means an international log established and maintained by the Secretariat to confirm the validity of transactions, including the issue and transfer of Kyoto units between registries and between accounts in the Registry
inventory agency means the chief executive
joint implementation project means a project aimed at reducing the human-induced emissions of greenhouse gases by sources or enhancing the human-induced removals by sink activities of a Party listed in Annex I of the Convention that is undertaken under Article 6 of the Protocol
Kyoto units means all of the unit types specified in, or in accordance with, the Protocol (namely, assigned amount units, certified emission reduction units, emission reduction units, long-term certified emission reduction units, removal units, and temporary certified emission reduction units)
landowner,—
- (a) in relation to Crown land, means the appropriate Minister (as that term is defined in section 2(2) of the Crown Minerals Act 1991); and
- (b) in relation to land other than Crown land, means—
  - (i) the legal owner of a freehold estate in the land; or
  - (ii) if the land is Maori customary land (as defined in section 4 of Te Ture Whenua Maori Act 1993), the person or persons who have title to the land as determined under Te Ture Whenua Maori Act 1993; or
  - (iii) if the land is Maori freehold land (as defined in section 4 of Te Ture Whenua Maori Act 1993), the legal owner of the land
local authority means a local authority within the meaning of the Local Government Act 2002
long-term certified emission reduction replacement account means an account in the Registry—
- (a) for the purpose of—
  - (i) replacing long-term certified emission reduction units in that account or the retirement account, before they are due to expire, with assigned amount units, certified emission reduction units, emission reduction units, or removal units; or
  - (ii) replacing long-term certified emission reduction units, no more than 30 days before they are due to expire as a result of a reversal of sinks or non-receipt of a certification report, with—
    (A) assigned amount units, certified emission reduction units, emission reduction units, or removal units; or
    (B) long-term certified emission reduction units from the same clean development mechanism project; and
- (b) that is limited to the relevant commitment period
long-term certified emission reduction unit means a unit derived from a clean development mechanism project, issued by the CDM registry, and designated as a long-term certified emission reduction unit by the CDM registry
Maori land has the same meaning as in section 4 of Te Ture Whenua Maori Act 1993
member, in relation to an unincorporated body, means a partner, joint venturer, trustee, joint owner of land, or other member of the body
merchantable timber means timber from the stem of a tree more than 10 years old, other than—
- (a) the stump; and
- (b) wood that is decayed or grossly distorted; and
- (c) wood that is less than 10 centimetres in diameter, excluding the bark
mining has the same meaning as in section 2(1) of the Crown Minerals Act 1991
Minister means the Minister who is, under the authority of any warrant or under the authority of the Prime Minister, responsible for the administration of this Act
natural gas means—
- (a) all gaseous hydrocarbons produced from wells, including wet gas and residual gas remaining after the extraction of condensate from wet gas; and
- (b) liquid hydrocarbons, other than condensate, extracted from wet gas and sold as natural gas liquids, for example, liquid petroleum gas; and
- (c) coal seam gas
New Zealand unit means a unit issued by the Registrar and designated as a New Zealand unit
nominated entity, in relation to a consolidated group, means an entity appointed under section 150(4)(b) or 152(3)(b) as the nominated entity of a consolidated group
non-compliance cancellation account means an account in the Registry for the purpose of holding any units on behalf of the Crown that are cancelled as a result of a determination that New Zealand is not in compliance with Article 3.1 of the Protocol
obligation fuel means any fuel specified as obligation fuel in regulations made under this Act
obligation jet fuel means any jet fuel specified as obligation jet fuel in regulations made under this Act
operating, in relation to a disposal facility, means being in control of the facility
ordinary hours of business means the hours of 8 am to 6 pm from Monday to Friday
overseas registry means—
- (a) a registry of a Party listed in Annex B of the Protocol (other than New Zealand):
- (b) the CDM registry
- (c) any other prescribed registry
participant means a person who is a participant under section 54
Party means a Party to the Protocol
performance, in relation to ruminants and other farmed livestock, means the production statistics with respect to those animals, including, but not limited to, weight, milk production, lambing and calving percentage, and wool weight
post-1989 forest land means forest land that—
- (a) was not forest land on 31 December 1989; or
- (b) was forest land on 31 December 1989 but was deforested in the period beginning on 1 January 1990 and ending on 31 December 2007; or
- (c) was pre-1990 forest land, other than exempt land,—
  - (i) that was deforested on or after 1 January 2008; and
  - (ii) in respect of which any liability to surrender units arising in relation to an activity listed in Part 1 of Schedule 3 has been satisfied; or
- (d) was exempt land—
  - (i) that has been deforested; and
  - (ii) in respect of which the number of units that would have been required to be surrendered in relation to an activity listed in Part 1 of Schedule 3, had the land not been exempt land, have been surrendered under section 187(2)
pre-1990 forest land—
- (a) means forest land—
  - (i) that was forest land on 31 December 1989; and
  - (ii) that remained as forest land on 31 December 2007 (taking into account subsection (5)); and
  - (iii) where the forest species on the forest land on 31 December 2007 consisted predominantly of exotic forest species; but
- (b) does not include any forest land that met the definition in paragraph (a), but—
  - (i) has been deforested and in respect of which any liability to surrender units arising in respect of an activity listed in Part 1 of Schedule 3 has been satisfied; or
  - (ii) was declared to be exempt land, has been deforested, and the number of units that would have been required to be surrendered in respect of an activity listed in Part 1 of Schedule 3 had the land not been exempt land have been surrendered under section 187(2)(b)
pre-1990 forest land allocation plan means an allocation plan that provides for the matters specified in section 72
previous commitment period means a commitment period, including (but not limited to) the first commitment period, that—
- (a) is specified or determined under the Protocol; and
- (b) begins and ends before a subsequent commitment period
primary representative means an individual appointed by an account holder as a primary representative of the account holder in accordance with any regulations made under Part 2
production land means any land used for the production of primary products (including agricultural, pastoral, horticultural, and forestry products); but does not include any buildings
Protocol—
- (a) means the Protocol to the United Nations Framework Convention on Climate Change done at Kyoto on 11 December 1997, a copy of the English text of which is set out in Schedule 2; and
- (b) includes any amendments made to the Protocol that are, or will become, binding on New Zealand from time to time
provisional allocation means a provisional allocation made under section 81
public notice means a notice published in a daily newspaper in each of the cities of Auckland, Wellington, Christchurch, and Dunedin, and made accessible via the Internet
recover, in relation to dispose,—
- (a) means the extraction of materials or energy from waste for further use or processing; and
- (b) includes making waste into compost
recycle, in relation to dispose, means the reprocessing of waste to produce new materials
registered forestry right means a forestry right registered under the Forestry Rights Registration Act 1983
registered lease,—
- (a) in relation to a lease in respect of land registered under the Land Transfer Act 1952,—
  - (i) means a lease registered under that Act; and
  - (ii) includes a lease registered under the Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002:
- (b) in relation to a lease in respect of land that is not registered under the Land Transfer Act 1952, means a lease registered under the Deeds Registration Act 1908
Registrar means the person appointed under section 11
Registry means the Registry established in New Zealand for the purpose set out in section 10
relevant commitment period means a commitment period that is specified or determined under the Protocol, and—
- (a) in which a particular activity or transaction occurs; or
- (b) to which an account or Kyoto unit is associated
removal activity means an activity that is listed in Part 1 or 2 of Schedule 4
removal unit means a unit—
- (a) derived from a Party's sink activities that result in a net removal of greenhouse gases; and
- (b) designated as a removal unit by—
  - (i) the Registry; or
  - (ii) an overseas registry of a Party listed in Annex B of the Protocol
removals, in relation to a removal activity, means carbon dioxide equivalent greenhouse gases that are, as a result of the removal activity,—
- (a) removed from the atmosphere; or
- (b) not released into the atmosphere; or
- (c) a reduction from emissions reported in—
  - (i) New Zealand's annual inventory report under section 32 as required under the Convention or Protocol for any year; or
  - (ii) any emissions report from New Zealand under a successor international agreement
retire, in relation to a Kyoto unit, means the transfer of that Kyoto unit to a retirement account in the Registry with the effect specified in section 18CA(2)
retirement account means an account in the Registry for the purpose of holding Kyoto units that the Minister of Finance has retired on behalf of the Crown
reuse, in relation to dispose, means the further use of waste in its existing form for the original purpose of the materials or products that constitute the waste or for a similar purpose
Secretariat means the Secretariat of the Convention
sink activity, in relation to greenhouse gas removals, means—
- (a) an activity under Article 3.3 of the Protocol; or
- (b) an elected activity under Article 3.4 of the Protocol
sink cancellation account means an account in the Registry for the purpose of holding units that the Minister of Finance has cancelled on behalf of the Crown as a result of sink activities resulting in a net source of emissions
solid biofuel means wood, wood waste, sulphate lyes, or charcoal
subsequent commitment period means a commitment period that—
- (a) is specified or determined under the Protocol; and
- (b) begins and ends after a previous commitment period
supervisory committee means the committee established to supervise the verification of emission reduction units generated by project activities under Article 6 of the Protocol
surrender means the transfer of a unit to a surrender account in the Registry with the effect specified in section 18CA(3) or (4)
surrender account means an account in the Registry for the purpose of holding units that account holders have surrendered
temporary certified emission reduction replacement account means an account in the Registry—
- (a) for the purpose of replacing temporary certified emission reduction units, before they are due to expire, with assigned amount units, certified emission reduction units, emission reduction units, removal units, or temporary certified emission reduction units that are due to expire in a subsequent commitment period; and
- (b) that is limited to the relevant commitment period
temporary certified emission reduction unit means a unit derived from a clean development mechanism project issued by the CDM registry, and designated as a temporary certified emission reduction unit by the CDM registry
unincorporated body—
- (a) means an unincorporated body of persons; and
- (b) includes (but is not limited to)—
  - (i) a partnership, a joint venture, or the trustees of a trust; and
  - (ii) if land, a lease, a forestry right, or a Crown conservation contract is not owned, held, or entered into by a partnership, joint venture, or the trustees of a trust, 3 or more joint—
    (A) landowners; or
    (B) leaseholders; or
    (C) holders of a registered forestry right; or
    (D) parties to a Crown conservation contract; but
- (c) does not, unless they are partners, joint venturers, or trustees of a trust, include 2 joint—
  - (i) landowners; or
  - (ii) leaseholders; or
  - (iii) holders of a registered forestry right; or
  - (iv) parties to a Crown conservation contract
unit means a Kyoto unit, a New Zealand unit, or an approved overseas unit
waste means any thing that has been disposed of or discarded—
- (a) including (but not limited to) any disposed of or discarded thing that is defined by its composition or source (for example, organic waste, electronic waste, or construction and demolition waste); but
- (b) excluding any solid biofuel combusted for the purposes of generating electricity or industrial heat
year means a calendar year ending on 31 December.
(2) Terms and expressions used and not defined in this Act but defined in the Convention or Protocol have, unless the context otherwise requires, the same meaning as in the Convention or Protocol.
(3) A person is an associated person in relation to 1 or more other persons if—
- (a) each person is a body corporate and each of the bodies corporate—
  - (i) consist substantially of the same members or shareholders; or
  - (ii) are under the control of the same persons; or
- (b) any of the bodies corporate—
  - (i) has the power, directly or indirectly, to exercise, or control the exercise of, 25% or more of the voting power at a meeting of the other; or
  - (ii) is able to appoint or control 25% or more of the governing body of the other.
(4) For the purposes of the definition of dispose, a deposit of waste is short-term if, not later than 6 months after the deposit (or any later time that the chief executive has agreed to in writing), the waste is—
- (a) reused or recycled; or
- (b) recovered; or
- (c) removed from the land for any other reason.
(5) Despite anything in this Act, a hectare of land is not to be treated as pre-1990 forest land if,—
- (a) on 1 January 2008, the land had—
  - (i) no standing exotic forest species (dead or alive), other than a strip of standing exotic forest species that had, or was likely to have, tree crown cover of an average width of less than 30 metres; and
  - (ii) no other merchantable timber from exotic forest species; and
- (b) 4 years after the date on which the land met the conditions in paragraph (a), it is not forest land and no allocation has been made in respect of the land under the pre-1990 forest land allocation plan.
Section 4(1) account number: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) allocate: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) allocation plan: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) allocation plan: amended, on 8 December 2009, by section 8(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) animal material: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) animal product: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) animal welfare export certificate: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) approved overseas unit: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) assigned amount unit: amended, on 26 September 2008, by section 6(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) associated person: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Australian eligible industrial activity: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) cancel: substituted, on 26 September 2008, by section 6(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) carbon accounting area: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) carbon accounting area paragraph (b): amended, on 8 December 2009, by section 8(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) carbon accounting area paragraph (c): added, on 8 December 2009, by section 8(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) carbon dioxide equivalent: amended, on 26 September 2008, by section 6(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) carry-over: amended, on 26 September 2008, by section 6(6)(a) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) carry-over: amended, on 26 September 2008, by section 6(6)(b) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) carry-over: amended, on 1 August 2003, by section 5(1)(a) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) certified emission reduction unit: amended, on 26 September 2008, by section 6(7) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) chief executive: substituted, on 5 December 2011, by section 4(1) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) chief executive responsible for the administration of this Act: repealed, on 5 December 2011, by section 4(1) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) clean development mechanism project: amended, on 1 August 2003, by section 5(1)(b) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) clear: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) coal: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) commitment period: repealed, on 1 August 2003, by section 5(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) commitment period reserve: amended, on 26 September 2008, by section 6(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) commitment period reserve paragraph (b): amended, on 26 September 2008, by section 6(9) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) consolidated group: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) Convention: substituted, on 8 December 2009, by section 8(5) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) conversion account: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) convert: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Crown conservation contract: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Crown holding account: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) Crown land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) dairy processing: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) deforest: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) designated operational entity: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) disposal facility: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) dispose: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) document: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) draft allocation plan: repealed, on 8 December 2009, by section 8(6) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) eligible activity: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) eligible agricultural activity: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) eligible industrial activity: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) eligible land: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) eligible person: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) emission reduction unit: amended, on 26 September 2008, by section 6(10) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) emissions: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) emissions return: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) entity: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Environmental Protection Authority or EPA: inserted, on 5 December 2011, by section 4(2) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) executive board: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) exempt land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) exotic forest species: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) expire or expiry: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) export: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) farm dairy: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) financial year: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) first commitment period: inserted, on 1 August 2003, by section 5(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) fishing allocation plan: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) Food Standards Code: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) forest land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) forest land paragraph (a): amended, on 8 December 2009, by section 8(7) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) forest land paragraph (c)(i): amended, on 8 December 2009, by section 8(8) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) forest land paragraph (c)(ii): amended, on 8 December 2009, by section 8(9) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) forest species: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) forest species: amended, on 8 December 2009, by section 8(10) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) group: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) holding account: amended, on 26 September 2008, by section 6(11) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) holding account: amended, on 1 August 2003, by section 5(1)(c) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) import: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) independent transaction log: repealed, on 26 September 2008, by section 6(12) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) indigenous forest species: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) initial assigned amount: amended, on 26 September 2008, by section 6(13) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) international transaction log: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) inventory agency: substituted, on 5 December 2011, by section 4(3) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) Kyoto units: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) landowner: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1): local authority: substituted, on 1 July 2003, by section 262 of the Local Government Act 2002 (2002 No 84).
Section 4(1) long-term certified emission reduction replacement account: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) long-term certified emission reduction unit: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) long-term certified emission reduction unit: amended, on 26 September 2008, by section 6(15) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Maori land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) member: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) merchantable timber: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) mining: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Minister: substituted, on 5 December 2011, by section 4(4) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) Minister responsible for the administration of this Act: repealed, on 5 December 2011, by section 4(4) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) Minister responsible for the inventory agency: repealed, on 26 September 2008, by section 6(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Minister responsible for the Registry: repealed, on 26 September 2008, by section 6(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) natural gas: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) New Zealand unit: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) nominated entity: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) obligation fuel: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) obligation jet fuel: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) operating: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) overseas registry paragraph (c): added, on 26 September 2008, by section 6(16) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) participant: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) post-1989 forest land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) post-1989 forest land paragraph (b): amended, on 8 December 2009, by section 8(11) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) pre-1990 forest land: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) pre-1990 forest land allocation plan: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) previous commitment period: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) primary representative: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Protocol: substituted, on 8 December 2009, by section 8(12) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) provisional allocation: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) public notice: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) recover: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) recycle: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) registered forestry right: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) registered lease: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) Registrar: inserted, on 5 December 2011, by section 4(2) of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 4(1) relevant commitment period: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) relevant commitment period paragraph (b): amended, on 26 September 2008, by section 6(17) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) removal activity: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) removal unit paragraph (b): amended, on 26 September 2008, by section 6(18) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) removals: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) representative identifier: repealed, on 26 September 2008, by section 6(19) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) retire: substituted, on 26 September 2008, by section 6(20) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) retirement account: amended, on 26 September 2008, by section 6(21) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) reuse: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) solid biofuel: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) subsequent commitment period: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) surrender: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) surrender account: inserted, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) temporary certified emission reduction replacement account: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) temporary certified emission reduction unit: inserted, on 1 August 2003, by section 5(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 4(1) temporary certified emission reduction unit: amended, on 26 September 2008, by section 6(22) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) unincorporated body: inserted, on 8 December 2009, by section 8(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) unit: substituted, on 26 September 2008, by section 6(23) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(1) waste: substituted, on 8 December 2009, by section 8(13) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 4(1) year: added, on 26 September 2008, by section 6(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(3): added, on 26 September 2008, by section 6(24) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(4): added, on 26 September 2008, by section 6(24) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 4(5): substituted, on 8 December 2009, by section 8(14) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

5 Act binds the Crown

This Act binds the Crown.

Part 2
Institutional arrangements

Subpart 1—Powers of Minister of Finance

6 Minister of Finance may direct Registrar regarding establishment of Crown holding accounts and carry out trading activities with respect to units

The Minister of Finance may, on behalf of the Crown,—
- (a) direct the Registrar to establish or close Crown holding accounts:
- (b) direct the Registrar to transfer units to any holding account in the Registry or to an overseas registry:
- (c) buy or sell units, or otherwise acquire or dispose of units:
- (d) enter into agreements to buy or sell units, or otherwise acquire or dispose of units, with any person (including any other Party):
- (e) buy or sell, or enter into any agreement to buy or sell, or otherwise acquire or dispose of, any financial derivatives or other financial instruments relating to units or in connection with transactions relating to units:
- (f) appoint agents to conduct the activities referred to in paragraphs (a) to (e) on the terms and conditions that the Minister of Finance thinks fit.
Section 6 heading: amended, on 8 December 2009, by section 9(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 6(a): amended, on 8 December 2009, by section 9(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

7 Minister of Finance may give directions to Registrar regarding accounts and units

(1) The Minister of Finance may give directions to the Registrar to—
- (a) establish the following accounts in the Registry for the Crown:
  - (i) a sink cancellation account:
  - (ii) a non-compliance cancellation account:
  - (iii) a general cancellation account:
  - (iv) a retirement account:
  - (v) a long-term certified emission reduction replacement account:
  - (vi) a temporary certified emission reduction replacement account:
  - (vii) a surrender account:
  - (viii) a conversion account:
- (b) issue assigned amount units in the Registry:
- (c) issue removal units or emission reduction units:
- (d) transfer, subject to any prescribed restriction or prohibition, units (other than long-term certified emission reduction units or temporary certified emission reduction units) from holding accounts to the general cancellation account, the long-term certified emission reduction replacement account, the non-compliance cancellation account, the retirement account, the surrender account, the conversion account, the temporary certified emission reduction replacement account, or the sink cancellation account:
- (da) transfer long-term certified emission reduction units or temporary certified emission reduction units from holding accounts to the general cancellation account, the long-term certified emission reduction replacement account, the temporary certified emission reduction replacement account, or the retirement account:
- (e) carry-over assigned amount units, certified emission reduction units, and emission reduction units held in holding accounts:
(2) Despite subsection (1), or any regulations made under this Act, the Minister of Finance may not give a direction to transfer units from an account held by an account holder other than the Crown to another account in the Registry, unless—
- (a) the Minister of Finance has the written consent of the account holder; or
- (b) if written consent is not given, the Minister of Finance gives the account holder reasonable notice and—
  - (i) the transfer is required to comply with New Zealand's obligations under the Protocol; or
  - (ii) the account holder has failed to comply with Part 2 or any regulations made under section 30G; or
- (c) section 30F(3) applies.
(3) For the purposes of subsection (2)(b)(i), reasonable notice means sufficient opportunity in the circumstances for the relevant account holder to make a written submission to the Minister of Finance on the transfer of the units before the units are transferred.
Section 7(1)(a)(v): added, on 19 November 2007, by section 6(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(a)(vi): added, on 19 November 2007, by section 6(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(a)(vii): added, on 26 September 2008, by section 7(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(1)(a)(viii): added, on 26 September 2008, by section 7(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(1)(b): substituted, on 19 November 2007, by section 6(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(d): substituted, on 19 November 2007, by section 6(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(d): amended, on 26 September 2008, by section 7(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(1)(d): amended, on 26 September 2008, by section 7(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(1)(da): inserted, on 19 November 2007, by section 6(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(e): substituted, on 19 November 2007, by section 6(4) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(1)(e): amended, on 26 September 2008, by section 7(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(2): added, on 19 November 2007, by section 6(5) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 7(2)(b): substituted, on 26 September 2008, by section 7(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(2)(c): added, on 26 September 2008, by section 7(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 7(3): added, on 19 November 2007, by section 6(5) of the Climate Change Response Amendment Act 2006 (2006 No 59).

8 Registrar must give effect to directions of Minister of Finance

(1) The Registrar must give effect to any directions given by the Minister of Finance under section 6 or section 7 in accordance with, and subject to, the procedures set out in subpart 2 of this Part and regulations made under section 30G.
(2) To avoid doubt, the Crown Entities Act 2004 does not apply to a direction by the Minister of Finance to the Registrar.
Section 8(1): amended, on 26 September 2008, by section 8 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 8(2): added, on 5 December 2011, by section 5 of the Climate Change Response Amendment Act 2011 (2011 No 15).

8A Minister of Finance must publish directions

As soon as practicable after giving a direction under section 6 or 7, the Minister of Finance must publish a copy of the direction on the Registry's Internet site.
Section 8A: inserted, on 19 November 2007, by section 7 of the Climate Change Response Amendment Act 2006 (2006 No 59).

9 Minister of Finance may obtain information from inventory agency and Registrar

For the purposes of managing the Crown's holding of units and discharging New Zealand's obligations under section 32(1)(b), the Minister of Finance may, as and when he or she thinks fit,—
- (a) direct the inventory agency to provide information estimating New Zealand's human-induced emissions of greenhouse gases by sources and removals by sink activities:
- (b) direct the Registrar to provide information on those units, including, but not limited to, information indicating—
  - (i) how many units the Crown holds; and
  - (ii) how many units the Crown has issued or acquired, transferred, retired, replaced, cancelled, and carried-over.
Section 9: amended, on 19 November 2007, by section 8(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 9(b)(ii): amended, on 26 September 2008, by section 9 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 9(b)(ii): amended, on 19 November 2007, by section 8(2)(a) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 9(b)(ii): amended, on 19 November 2007, by section 8(2)(b) of the Climate Change Response Amendment Act 2006 (2006 No 59).

Subpart 1A—Chief executive

Subpart 1A: inserted, on 5 December 2011, by section 6 of the Climate Change Response Amendment Act 2011 (2011 No 15).

9A Functions of chief executive

The functions of the chief executive are to—
- (a) advise the Minister; and
- (b) be the inventory agency; and
- (c) publish information on the Internet in accordance with this Act.
Section 9A: inserted, on 5 December 2011, by section 6 of the Climate Change Response Amendment Act 2011 (2011 No 15).

9B Delegation by chief executive

(1) The chief executive may delegate any of his or her functions, duties, and powers under this Act to the EPA.
(2) Section 41 of the State Sector Act 1988 applies to a delegation under this section as if the EPA were an employee of the chief executive.
Section 9B: inserted, on 5 December 2011, by section 6 of the Climate Change Response Amendment Act 2011 (2011 No 15).

Subpart 2—Registry

Purpose of Registry

10 Purpose of Registry

(1) The purpose of the Registry in relation to Kyoto units is to—
- (a) ensure, for the first commitment period or a subsequent commitment period, the accurate, transparent, and efficient accounting of—
  - (i) the issue, holding, transfer, retirement, surrender, and cancellation of Kyoto units; and
  - (ii) the carry-over of assigned amount units, certified emission reduction units, and emission reduction units; and
  - (iii) the replacement of expired long-term certified emission reduction units and expired temporary certified emission reduction units; and
- (b) ensure, in accordance with Article 7.4 of the Protocol, the accurate, transparent, and efficient exchange of information between—
  - (i) the Registry and overseas registries; and
  - (ii) the Registry and the international transaction log.
- (c) [Repealed]
(2) The purpose of the Registry in relation to New Zealand units and approved overseas units is to ensure—
- (a) the accurate, transparent, and efficient accounting of—
  - (i) the issue of New Zealand units; and
  - (ii) the holding, transfer, surrender, and cancellation of New Zealand units and approved overseas units; and
  - (iii) the conversion of New Zealand units into assigned amount units; and
- (b) the accurate, transparent, and efficient exchange of information between the Registry and overseas registries.
(3) The purpose of the Registry in relation to all units is to facilitate the exchange of information between those persons with functions, duties, and powers under this Act to enable all of them to perform their functions and duties, and exercise their powers.
Section 10(1): amended, on 26 September 2008, by section 10(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(a): amended, on 26 September 2008, by section 10(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(a): amended, on 19 November 2007, by section 9(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 10(1)(a)(i): amended, on 26 September 2008, by section 10(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(a)(i): amended, on 26 September 2008, by section 10(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(a)(i): amended, on 19 November 2007, by section 9(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 10(1)(a)(iii): added, on 19 November 2007, by section 9(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 10(1)(b)(ii): amended, on 26 September 2008, by section 10(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(b)(ii): amended, on 26 September 2008, by section 10(6) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(1)(c): repealed, on 26 September 2008, by section 10(7) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(2): added, on 26 September 2008, by section 10(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 10(3): added, on 26 September 2008, by section 10(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Registrar

11 EPA to appoint Registrar

The EPA must appoint an employee of the EPA as the Registrar.
Section 11: substituted, on 5 December 2011, by section 7 of the Climate Change Response Amendment Act 2011 (2011 No 15).

12 Registrar responsible for Registry

The Registrar is responsible for the operation, on behalf of the Crown, of the Registry.
Section 12: amended, on 5 December 2011, by section 8 of the Climate Change Response Amendment Act 2011 (2011 No 15).

13 Registrar may refuse access to, or suspend operation of, Registry

The Registrar may refuse access to the Registry, or otherwise suspend the operation of the Registry (in whole or in part),—
- (a) for maintenance; or
- (b) in response to technical difficulties; or
- (c) to ensure the security or integrity of the Registry; or
- (d) to give effect to New Zealand's international obligations.
Section 13: substituted, on 19 November 2007, by section 10 of the Climate Change Response Amendment Act 2006 (2006 No 59).

14 Registrar must give effect to directions

The Registrar must give effect to any direction relating to the transfer of units from a Crown holding account (or in the case of reimbursement, from a surrender account) to the holding account of an eligible person or a participant (or, if required, in the prescribed circumstances to another holding account notified by one of those persons) that is given by a Minister authorised to give such directions in accordance with a provision in Part 4 or 5 of this Act or the EPA.
Section 14: substituted, on 8 December 2009, by section 10 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 14: amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

15 Registrar to allocate unique numbers

(1) The Registrar must, in accordance with regulations made under this Act,—
- (a) allocate a unique account number to each account when the account is created; and
- (b) allocate a unique serial number to—
  - (i) each assigned amount unit when the Registrar records the initial assigned amount; and
  - (ii) each removal unit when the Registrar issues the removal unit.
(1A) The Registrar may, subject to regulations made under this Part, allocate a unique serial number to—
- (i) a New Zealand unit; or
- (ii) an approved overseas unit; or
- (iii) a class or subclass of New Zealand units; or
- (iv) a class or subclass of approved overseas units.
(2) If the Minister of Finance directs the Registrar to issue emission reduction units under section 7, the Registrar must convert the assigned amount units or removal units specified by the Minister of Finance into emission reduction units by—
- (a) giving the emission reduction units the serial numbers of the units from which the emission reduction units are being converted; and
- (b) replacing the identifiers on the converted units with identifiers that designate that the converted units are emission reduction units.
Section 15 heading: amended, on 26 September 2008, by section 13(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 15(1A): inserted, on 26 September 2008, by section 13(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

16 Carry-over of certain Kyoto units

(1) An account holder may, subject to regulations made under this Act, apply to the Registrar to carry-over assigned amount units, certified emission reduction units, or emission reduction units held in that account holder's holding account.
(2) Long-term certified emission reduction units, removal units, and temporary certified emission reduction units may not be carried-over.
Section 16: substituted, on 19 November 2007, by section 12 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 16 heading: amended, on 26 September 2008, by section 14(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 16(1): amended, on 26 September 2008, by section 14(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 16(2): amended, on 26 September 2008, by section 14(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

17 Commitment period reserve

(1) Despite anything in this Act, the Registrar may not transfer or cancel Kyoto units if the transfer or cancellation would cause the total of the Kyoto units in all holding accounts and the retirement account in the unit register, excluding those Kyoto units subject to a notification from the international transaction log under section 21(3), to fall below the commitment period reserve.
(2) This section does not apply to transfers or cancellations of Kyoto units that the Registrar has issued as emission reduction units that were verified by the supervisory committee.
Section 17(1): substituted, on 26 September 2008, by section 15(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 17(2): amended, on 26 September 2008, by section 15(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

17A Power of Registrar to delegate

(1) The Registrar may, in writing, delegate to any person who is employed by the EPA or in the State services all or any of the functions, duties, and powers exercisable by the Registrar under this Act, except this power of delegation.
(2) Subject to any general or special directions given or conditions specified at any time by the Registrar, the person to whom any functions, duties, or powers are delegated under this section must perform and may exercise those functions, duties, and powers in the same manner and with the same effect as if they had been conferred on that person directly by a section of this Act and not by delegation.
(3) Every person purporting to act under any delegation under this section is, in the absence of proof to the contrary, presumed to be acting in accordance with the terms of the delegation.
(4) Any delegation under this section may be to a specified person or to persons of a specified class, or may be to the holder or holders for the time being of a specified office or specified classes of offices.
(5) Every delegation under this section is revocable in writing at will by the Registrar, and no such delegation prevents the exercise of any function, duty, or power by the Registrar.
(6) Every delegation under this section, until revoked, continues in force according to its tenor, even if the Registrar by whom it was made has ceased to hold office.
(7) For the purposes of this section, State services has the same meaning as in section 2 of the State Sector Act 1988.
Section 17A: inserted, on 8 December 2009, by section 11 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 17A(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

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).

18A Opening holding accounts

(1) Any person may submit an application to the Registrar to open 1 or more holding accounts in the unit register by using the form and paying the fees (if any) prescribed in regulations made under this Act.
(2) The Registrar may approve the opening of a holding account subject to any regulations made under this Act.
(3) If the Registrar approves an application to open a holding account, the Registrar must, as soon as practicable,—
- (a) open a holding account in the applicant's name; and
- (b) provide the applicant with an account number.
(4) If the application is incomplete, the Registrar must, as soon as practicable, ask the applicant to provide the information or fee (if any) that is required to make the application complete.
(5) The Registrar may refuse to provide a holding account to any applicant who provides an incomplete application.
(6) A holding account is subject to any regulations made under this Act.
Section 18A: inserted, on 19 November 2007, by section 14 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 18A(3)(b): amended, on 26 September 2008, by section 17 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

18B Closing holding accounts

(1) An account holder may submit a request to the Registrar to close 1 or more of that account holder's holding accounts in the unit register by using the form and paying the fee (if any) prescribed in regulations made under this Act.
(2) The EPA may give a direction to the Registrar to close an account holder's holding account—
- (a) if the EPA has the written consent of the account holder; or
- (b) where written consent is not given,—
  - (i) if the EPA has given the account holder reasonable notice; and
  - (ii) if—
    - (A) the closure is required to comply with New Zealand's obligations under the Protocol; or
    - (B) the account holder has failed to comply with this Part or any regulations made regarding the matters specified in section 30G; or
    - (C) the EPA is satisfied that the account holder no longer requires the account.
(3) If there are any units remaining in a holding account when it is closed,—
- (a) the units are forfeited to the Crown; and
- (b) the Registrar must, as soon as practicable, transfer the units to a Crown holding account.
(4) If a request is incomplete, the Registrar must, as soon as practicable, ask the account holder to provide the information or fee (if any) that is required to make the request complete.
(5) The Registrar may not close a holding account if the account holder provides an incomplete request.
(6) For the purposes of subsection (2)(b)(i), reasonable notice means sufficient opportunity in the circumstances to—
- (a) transfer the units to another account before the holding account that is the subject of the closure direction is closed; or
- (b) in the case of non-compliance, comply with this Part or any regulations made under section 30G; or
- (c) if the EPA is satisfied that an account holder no longer requires a holding account, make a written submission to the EPA, before the account is closed, regarding the account holder’s need to retain the account.
(7) The Registrar must give effect to any directions given by the EPA under subsection (2) in accordance with, and subject to, the procedures set out in this subpart and any regulations made under section 30G.
Section 18B: inserted, on 19 November 2007, by section 14 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 18B(2): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18B(2)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18B(2)(b)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18B(2)(b)(ii)(B): amended, on 26 September 2008, by section 18(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18B(2)(b)(ii)(B): amended, on 26 September 2008, by section 18(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18B(2)(b)(ii)(C): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18B(6): substituted, on 26 September 2008, by section 18(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18B(6)(c): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18B(7): added, on 8 December 2009, by section 12 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 18B(7): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

18C Transfer of units

(1) An account holder may, by using the form and paying the fees (if any) prescribed in regulations made under this Act, apply to the Registrar to transfer units from that account holder's holding account to another account in—
- (a) the unit register; or
- (b) an overseas registry.
(2) The Registrar must transfer the specified units as requested, subject to any regulations made under this Act.
(3) Despite subsection (2), if the Registrar is asked to transfer Kyoto units held in an account holder's holding account to a retirement account, the Registrar must—
- (a) seek a direction from the Minister of Finance as to whether the units may be transferred to a retirement account; and
- (b) transfer the units to a retirement account if the Minister of Finance so directs.
(4) An account holder who receives units is under no obligation to initiate any registration process.
Section 18C: inserted, on 19 November 2007, by section 14 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 18C(3): amended, on 26 September 2008, by section 19(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18C(3): amended, on 26 September 2008, by section 19(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18C(3)(a): amended, on 26 September 2008, by section 19(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18C(3)(b): amended, on 26 September 2008, by section 19(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

18CA Effect of surrender, retirement, cancellation, and conversion

(1) A unit that is transferred to a cancellation account may not be further transferred, retired, surrendered, carried-over, or cancelled.
(2) A Kyoto unit that is transferred to a retirement account may not be further transferred, retired, surrendered, carried-over, or cancelled.
(3) A Kyoto unit that is transferred to a surrender account may only be further transferred, in accordance with—
- (a) a direction from the Minister of Finance, to a retirement account or a cancellation account; or
- (b) a direction of the EPA given under section 124, to a participant's holding account.
(4) A New Zealand unit or an approved overseas unit that is transferred to a surrender account may only be further transferred in accordance with a direction of the EPA given under section 124.
(5) A New Zealand unit that is transferred to a conversion account may not be surrendered, cancelled, or otherwise further transferred except as required by section 30E(4)(b).
Section 18CA: inserted, on 26 September 2008, by section 20 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18CA(3): substituted, on 8 December 2009, by section 13 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 18CA(3)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18CA(4): substituted, on 8 December 2009, by section 13 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 18CA(4): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

18CB Restriction on surrender of assigned amount units

(1) No participant may surrender, or permit to be surrendered, an imported assigned amount unit to meet the participant’s obligations under section 63 unless the assigned amount unit meets the conditions or requirements prescribed in regulations made under this Part.
(2) In this section and section 18CD, imported assigned amount unit means an assigned amount unit that is issued out of the initial assigned amount of a Party other than New Zealand.
Section 18CB: inserted, on 26 September 2008, by section 20 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

18CC Restriction on surrender of assigned amount units issued during first commitment period

(1) No participant may surrender, or permit to be surrendered, a CP1 imported assigned amount unit to meet the participant’s obligations under section 63 in respect of any emissions from any activities listed in Schedule 3 or 4 carried out by the participant after 31 December 2012.
(2) In this section and sections 18CD and 19, CP1 imported assigned amount unit means an assigned amount unit that is issued out of the initial assigned amount of a Party, other than New Zealand, during the first commitment period.
Section 18CC: inserted, on 26 September 2008, by section 20 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

18CD Effect of surrendering restricted assigned amount units

(1) This section applies if at any time the Registrar discovers that—
- (a) an imported assigned amount unit has been transferred to a surrender account that does not meet any of the conditions or requirements prescribed in regulations made under this Part; or
- (b) a CP1 imported assigned amount unit has been transferred to a surrender account to meet a participant’s obligations under section 63 in respect of any emissions from any activities listed in Schedule 3 or 4 carried out by the participant after 31 December 2012.
(2) If this section applies, the Registrar must—
- (a) reverse the transfer; and
- (b) notify the participant and the EPA that the transfer has been reversed.
(3) If a transfer is reversed under subsection (2),—
- (a) the EPA must treat the transfer as never taking place for the purpose of assessing whether a participant has surrendered the required number of units by the due date as required under any section of this Act; and
- (b) if the EPA considers that the person has not surrendered the required number of units by the due date, give a notice to the participant under section 134(3)(a).
Section 18CD: inserted, on 26 September 2008, by section 20 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 18CD(2)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18CD(3)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 18CD(3)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

18D Succession

(1) This section applies if an account holder—
- (a) is a natural person and dies; or
- (b) is not a natural person and is wound up, liquidated, dissolved, or otherwise ceases to exist.
(2) If this section applies, the person listed on the holding account as the account holder's representative may operate the holding account until—
- (a) a successor is determined; and
- (b) the Registrar is informed of that determination in writing.
(3) If a successor is determined, and the Registrar is informed of that determination in writing, the Registrar must register the successor as the account holder.
Section 18D: inserted, on 19 November 2007, by section 14 of the Climate Change Response Amendment Act 2006 (2006 No 59).

18E Trusts, representatives, and assignees of bankrupts

(1) Notice of a trust, whether express, implied, or constructive, may not be entered on the unit register except in accordance with subsection (1A).
(1A) If the trustees of a trust apply to open a holding account under section 18A, then—
- (a) the trustees may specify the name of the trust as the name of the holding account; and
- (b) the Registrar may enter on the unit register the name of the trust as the name of the holding account.
(2) Despite anything in section 18D, the existence of a representative that may operate the holding account of an account holder who has died, or that has been wound up, liquidated, or dissolved, or otherwise has ceased to exist, does not constitute notice of a trust.
(3) The assignee of the property of a bankrupt may be entered on the unit register as the assignee of the bankrupt's units.
Section 18E: inserted, on 19 November 2007, by section 14 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 18E(1): substituted, on 8 December 2009, by section 14 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 18E(1A): inserted, on 8 December 2009, by section 14 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

19 Retirement of Kyoto units by the Crown

(1) The Crown may offset each tonne of carbon dioxide equivalent of human-induced greenhouse gas emissions, emitted from sources listed in Annex A of the Protocol, by transferring a Kyoto unit to the retirement account.
(2) Despite subsection (1), the Crown may not retire a CP1 imported assigned amount unit to offset any carbon dioxide equivalent of human-induced greenhouse gas emissions that are emitted after 31 December 2012 from sources listed in Annex A of the Protocol.
(3) New Zealand units and approved overseas units may not be retired.
Section 19: substituted, on 26 September 2008, by section 21 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

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).

21 Registration procedure for Kyoto units

(1) On receipt of a direction in relation to Kyoto units given by the Minister authorised to give the direction under a provision of this Act or the EPA, or an application for the registration of a transaction in relation to Kyoto units by an account holder that is completed to the satisfaction of the Registrar and in accordance with any regulations made under this Act, the Registrar must—
- (a) create a unique transaction number; and
- (b) if the proposed transaction concerns the international transaction log, send a record of the proposed transaction to the international transaction log if required to do so by the international transaction log; and
- (c) if the proposed transaction does not concern the international transaction log,—
  - (i) record in the unit register the particulars of the transaction set out in the direction or the application; and
  - (ii) send electronic notification that the transaction has been recorded in the unit register to,—
    - (A) in the case of a direction, the Minister or the EPA who gave the direction and, if the direction specifies that Kyoto units are to be transferred to a holding account of an account holder other than the Crown, the account holder:
    - (B) in the case of an application, the account holder who submitted the application and the account holder specified in the application as the account holder to whose holding account Kyoto units are to be transferred.
(2) If the Registrar sends a record of the proposed transaction to the international transaction log under subsection (1)(b) and receives notification back from the international transaction log that there are no discrepancies in the transaction, the Registrar must, as soon as practicable,—
- (a) record in the unit register the particulars of the transaction set out in the direction or the application; and
- (b) send notification that the transaction has been recorded in the unit register to the international transaction log; and
- (c) send electronic notification that the transaction has been recorded in the unit register to,—
  - (i) in the case of a direction, the Minister or the EPA who gave the direction; or
  - (ii) in the case of an application, the account holder.
(3) If the Registrar receives a notification from the international transaction log that there is a discrepancy in a transaction in relation to Kyoto units, the Registrar—
- (a) may not register the transaction; and
- (b) must terminate the transaction; and
- (c) must give notification of the termination, as soon as practicable, to the international transaction log; and
- (d) send electronic notification that the transaction has been terminated to,—
  - (i) in the case of a direction, the Minister or the EPA who gave the direction; or
  - (ii) in the case of an application, the account holder.
(4) This section does not apply to the carry-over of assigned amount units, certified emission reduction units, and emission reduction units.
Section 21 heading: amended, on 26 September 2008, by section 23(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(1): substituted, on 19 November 2007, by section 16(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 21(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21(1): amended, on 26 September 2008, by section 23(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(1): amended, on 26 September 2008, by section 23(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(1)(a): amended, on 8 December 2009, by section 15(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21(1)(b): substituted, on 26 September 2008, by section 23(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(1)(c): added, on 26 September 2008, by section 23(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(1)(c)(ii)(A): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21(1)(c)(ii)(A): amended, on 8 December 2009, by section 15(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21(2): substituted, on 26 September 2008, by section 23(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(2)(c)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21(2)(c)(i): amended, on 8 December 2009, by section 15(4) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21(3): amended, on 26 September 2008, by section 23(6) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(3): amended, on 26 September 2008, by section 23(7) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(3)(c): substituted, on 26 September 2008, by section 23(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(3)(d): added, on 26 September 2008, by section 23(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21(3)(d)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21(3)(d)(i): amended, on 8 December 2009, by section 15(5) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21(4): amended, on 26 September 2008, by section 23(9) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

21AA Registration procedure for New Zealand units and approved overseas units

(1) On receipt of a direction in relation to New Zealand units or approved overseas units given by a Minister authorised to give the direction under a provision of this Act or the EPA, or an application for the registration of a transaction in relation to New Zealand units or approved overseas units by an account holder, which is completed to the satisfaction of the Registrar and in accordance with any regulations made under this Act, the Registrar must—
- (a) create a unique transaction number; and
- (b) if the proposed transaction concerns an overseas registry, send a record of the proposed transaction to the overseas registry if required to do so by the overseas registry; and
- (c) if the proposed transaction does not concern an overseas registry,—
  - (i) record in the unit register the particulars of the transaction set out in the direction or the application; and
  - (ii) send electronic notification that the transaction has been recorded in the unit register to,—
    - (A) in the case of a direction, the Minister or the EPA who gave the direction and, if the direction specifies that New Zealand units or approved overseas units are to be transferred to the holding account of an account holder other than the Crown, the account holder:
    - (B) in the case of an application, the account holder who submitted the application and the account holder specified in the application as the account holder to whose holding account New Zealand units or approved overseas units are to be transferred.
(2) If the Registrar sends a record of the proposed transaction to an overseas registry under subsection (1)(b) and receives notification back from the overseas registry that there are no discrepancies in the transaction, the Registrar must, as soon as practicable,—
- (a) record in the unit register the particulars of the transaction set out in the direction or the application; and
- (b) send notification to the overseas registry that the transaction has been recorded in the unit register; and
- (c) send electronic notification that the transaction has been recorded in the unit register to,—
  - (i) in the case of a direction, the Minister or the EPA who gave the direction; or
  - (ii) in the case of an application, the account holder.
(3) If the Registrar receives a notification from the overseas registry that there is a discrepancy in a proposed transaction in relation to New Zealand units or approved overseas units, the Registrar—
- (a) may not register the transaction; and
- (b) must terminate the transaction; and
- (c) must notify the overseas registry of the termination; and
- (d) send electronic notification that the transaction has been terminated to,—
  - (i) in the case of a direction, the Minister or the EPA who gave the direction; or
  - (ii) in the case of an application, the account holder.
Section 21AA: inserted, on 26 September 2008, by section 24 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 21AA(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21AA(1)(c)(ii)(A): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21AA(1)(c)(ii)(A): amended, on 8 December 2009, by section 16(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21AA(2)(c)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21AA(2)(c)(i): amended, on 8 December 2009, by section 16(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 21AA(3)(d)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21AA(3)(d)(i): amended, on 8 December 2009, by section 16(4) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

21A Electronic registration

A direction to the Registrar by the Minister or the EPA under a provision of this Act or an application by an account holder to register a transaction must be—
- (a) made electronically in the prescribed form via the Registry's Internet site, and contain the particulars specified in the form; and
- (b) accompanied by the fee (if any) prescribed in regulations made under this Act; and
- (c) made in accordance with regulations made under this Act.
Section 21A: inserted, on 19 November 2007, by section 17 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 21A: amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 21A: amended, on 8 December 2009, by section 17 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

21B Defective applications

(1) If an application is defective, the Registrar may—
- (a) [Repealed]
- (b) direct, in writing by electronic notification, the applicant to correct the defect within a specified period of time.
(2) If a direction to correct a defect is not complied with within the specified period of time, the Registrar may refuse to—
- (a) proceed with the registration; or
- (b) register the transaction.
(3) Any fees paid to the Registrar in relation to an uncorrected defective application are forfeited.
Section 21B: inserted, on 19 November 2007, by section 17 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 21B(1)(a): repealed, on 26 September 2008, by section 25 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

22 Transactions take effect when registered

(1) A transaction takes effect when it is registered.
(2) A transaction is registered when the Registrar—
- (a) assigns a registration number, date, and time, and other information that may be required by this Act, to the transaction; and
- (b) enters those particulars in the unit register.

23 Receiving Kyoto units from overseas registries

(1) If the Registrar receives notification from an overseas registry of a proposal to transfer Kyoto units to an account in the Registry, the Registrar must register the transaction, in accordance with the notification, when the Registrar receives the following:
- (a) notification from the international transaction log that the proposed transaction does not contain any discrepancies; and
- (b) [Repealed]
(2) If the Registrar receives notification from an overseas registry of a proposal to transfer Kyoto units to an account in the Registry and receives notification from the international transaction log that there is a discrepancy, the Registrar—
- (a) may not register the transaction; and
- (b) must terminate the transaction; and
- (c) must notify the international transaction log of the termination.
(3) A transfer of Kyoto units from an overseas registry is subject to any regulations made under this Act.
Section 23 heading: amended, on 26 September 2008, by section 26(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(1): amended, on 26 September 2008, by section 26(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(1)(a): amended, on 26 September 2008, by section 26(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(1)(b): repealed, on 19 November 2007, by section 18(1) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 23(2): amended, on 26 September 2008, by section 26(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(2): amended, on 26 September 2008, by section 26(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(2)(c): amended, on 26 September 2008, by section 26(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 23(2)(c): amended, on 19 November 2007, by section 18(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 23(3): added, on 19 November 2007, by section 18(3) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 23(3): amended, on 26 September 2008, by section 26(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

23A Receiving New Zealand units and approved overseas units from overseas registries

(1) If the Registrar receives notification from an overseas registry of a proposal to transfer New Zealand units or approved overseas units to an account in the Registry and the Registrar is satisfied that there is no discrepancy with the transaction, the Registrar must register the transaction in accordance with the notification.
(2) If the Registrar receives notification from an overseas registry of a proposal to transfer New Zealand units or approved overseas units to an account in the Registry and the Registrar is satisfied that there is a discrepancy with the transaction, the Registrar—
- (a) may not register the transaction; and
- (b) must terminate the transaction; and
- (c) must notify the overseas registry of the termination.
(3) A transfer of New Zealand units or approved overseas units from an overseas registry is subject to any regulations made under this Act.
Section 23A: inserted, on 26 September 2008, by section 27 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

24 Priority of registration

(1) A direction given to the Registrar by the Minister or the EPA under a provision of this Act or an application for the registration of a transaction by an account holder must, as soon as practicable, be processed in the chronological order in which it is received by the Registrar.
(2) A direction or an application is received by the Registrar when it is recorded as being downloaded into the computer maintained to operate the unit register.
(3) Subsection (1) applies to an application for the registration of a transaction only if the application is completed to the satisfaction of the Registrar and in accordance with any regulations made under this Act.
Section 24(1): substituted, on 26 September 2008, by section 28(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 24(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 24(1): amended, on 8 December 2009, by section 18 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 24(2): amended, on 19 November 2007, by section 19(2) of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 24(3): added, on 26 September 2008, by section 28(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

25 Correction of unit register

(1) If the unit register records a transaction inaccurately, and the inaccuracy is the result of an error or omission made by the Registrar when registering the transaction, then a request to correct the inaccuracy may be submitted by—
- (a) the Minister or the EPA who gave the direction, if the Registrar registered the transaction following receipt of a direction from the Minister or the EPA; or
- (b) the account holder who applied to register the transaction.
(2) The request—
- (a) may be made at any time; and
- (b) must specify—
  - (i) the inaccuracy; and
  - (ii) the correction required; and
- (c) must be in the form, and accompanied by the fees (if any), prescribed in regulations made under this Act.
(3) If the Registrar is satisfied that the unit register is inaccurate in any respect, the Registrar may—
- (a) correct the unit register accordingly; and
- (b) record on the unit register—
  - (i) the nature of the correction; and
  - (ii) the time that the correction was made; and
- (c) give notification of the correction, as soon as practicable, to—
  - (i) any person whom the Registrar considers to be affected by the correction; and
  - (ii) the international transaction log (if required to do so); and
  - (iii) an overseas registry (if required to do so).
Section 25: substituted, on 19 November 2007, by section 20 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 25(1): substituted, on 26 September 2008, by section 29(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 25(1)(a): substituted, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 25(3): amended, on 26 September 2008, by section 29(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 25(3)(c)(ii): substituted, on 26 September 2008, by section 29(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 25(3)(c)(iii): substituted, on 26 September 2008, by section 29(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

26 Unit register must be open for search

(1) Except as provided in section 13, the unit register must be open at all times for searches by a person via the Registry's Internet site.
(2) The Registrar is not required to make publicly available any information that is not listed in section 27.
Section 26(1): amended, on 19 November 2007, by section 21 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 26(2): added, on 26 September 2008, by section 30 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

27 Information accessible by search

(1) The following information must be accessible by a search of the unit register:
- (a) the following up-to-date information for each account:
  - (i) the name of the account holder; and
  - (ii) the type of account; and
  - (iii) the account number; and
  - (iv) the full name, mailing address, telephone number, fax number, and email address of any primary representatives of the account holder; and
- (b) a list of account holders; and
- (c) the relevant commitment period of any—
  - (i) general cancellation account or retirement account; and
  - (ii) long-term certified emission reduction replacement account or temporary certified emission reduction replacement account; and
- (d) any other information prescribed in regulations made under this Part.
(2) The following information must be made accessible by a search of the unit register, and be available by 31 January in each year, in a form that shows the relevant totals at the end of the previous year:
- (a) the total holdings of Kyoto units in the Registry; and
- (b) the total holdings of assigned amount units, emission reduction units, certified emission reduction units, long-term certified emission reduction units, temporary certified emission reduction units, and removal units in the Registry; and
- (c) the total quantity of New Zealand units issued during that year; and
- (d) the total quantity of New Zealand units transferred for each removal activity during that year; and
- (e) the total holdings of New Zealand units in the Registry; and
- (f) the total holdings of approved overseas units in the Registry; and
- (g) the total holdings of each type of approved overseas units in the Registry; and
- (h) the total quantity of assigned amount units issued on the basis of New Zealand’s initial assigned amount during that year; and
- (i) the total quantity of emission reduction units issued on the basis of a joint implementation project during that year; and
- (j) the following information in relation to units transferred to the Registry from overseas registries during that year:
  - (i) the total quantity of units transferred; and
  - (ii) the total quantity of each type of unit transferred; and
  - (iii) the identity of the transferring overseas registries, including the total quantity of—
    - (A) units transferred from each overseas registry; and
    - (B) each type of unit transferred from each overseas registry; and
- (k) the following information in relation to units transferred from the Registry to overseas registries during that year:
  - (i) the total quantity of units transferred; and
  - (ii) the total quantity of each type of unit transferred; and
  - (iii) the identity of the acquiring overseas registries, including the total quantity of—
    - (A) units transferred to each overseas registry; and
    - (B) each type of unit transferred to each overseas registry; and
- (l) the total quantity of units transferred between holding accounts in the Registry during that year; and
- (m) the total quantity of each type of unit transferred between holding accounts in the Registry during that year; and
- (n) the total quantity of removal units issued in relation to sink activities during that year; and
- (o) the total quantity of Kyoto units transferred to the sink cancellation account during that year; and
- (p) the total quantity of Kyoto units transferred to the non-compliance cancellation account during that year; and
- (q) the total quantity of units transferred to the general cancellation account during that year; and
- (r) the total quantity of Kyoto units retired during that year; and
- (s) the total quantity of units surrendered during that year; and
- (t) the total quantity of each type of unit surrendered during that year; and
- (u) the following information in relation to New Zealand units transferred to the conversion account during that year:
  - (i) the total quantity of New Zealand units converted; and
  - (ii) the total quantity of New Zealand units converted for the purpose of transferring designated assigned amount units to—
    - (A) an account in an overseas registry; or
    - (B) the general cancellation account; and
- (v) the total quantity of assigned amount units, certified emission reduction units, and emission reduction units carried-over from a previous commitment period during that year; and
- (w) the expiry date of each long-term certified emission reduction unit and each temporary certified emission reduction unit held in the Registry.
(3) The following information must be accessible by a search of the unit register in a form that shows the relevant totals at the beginning of the previous year:
- (a) the total holdings of Kyoto units in each holding account in the Registry (including any holding account held by the Crown); and
- (b) the total holdings of assigned amount units, emission reduction units, certified emission reduction units, long-term certified emission reduction units, temporary certified emission reduction units, and removal units in each holding account in the Registry (including any holding account held by the Crown).
Section 27: substituted, on 26 September 2008, by section 31 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

28 Search of unit register

A person may, by using the form and paying the fees (if any) prescribed by regulations made under this Act, search the unit register, and obtain a printed search result, in accordance with this Act and any regulations made under this Act.
Section 28: substituted, on 14 November 2006, by section 23 of the Climate Change Response Amendment Act 2006 (2006 No 59).

29 Printed search result receivable as evidence

A printed search result, or a copy of a printed search result, that purports to be issued by the Registrar is receivable as evidence and is, in the absence of evidence to the contrary, proof of any matter recorded in the unit register, including (but not limited to)—
- (a) the ownership of units; and
- (b) the date and time of the registration of a transaction; and
- (c) information that the Registry holds.
Section 29: substituted, on 14 November 2006, by section 23 of the Climate Change Response Amendment Act 2006 (2006 No 59).

30 Recovery of fees

(1) A fee that is not paid in accordance with regulations made under this Part may be recovered from the person liable to pay the fees by the EPA in any court of competent jurisdiction.
(2) The EPA may enter into any agreement or arrangement, on any terms that the EPA thinks fit, with any person to collect, or assist in the collection of, any fees that are payable.
Section 30(1): amended, on 26 September 2008, by section 32(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 30(1): amended, on 26 September 2008, by section 32(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30(2): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 30(2): amended, on 26 September 2008, by section 32(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30A The Crown or Registrar not liable in relation to searches in certain cases

No action may be brought against the Crown or the Registrar for any loss or damage resulting from—
- (a) an inaccuracy in a search of the unit register; or
- (b) an inaccurate entry or omission in the unit register if the inaccuracy or omission arises from reasonable reliance on information received by the Registrar from—
  - (i) the international transaction log; or
  - (ia) an overseas registry; or
  - (ib) a third party; or
  - (ii) an account holder.
Section 30A: inserted, on 14 November 2006, by section 24 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 30A heading: amended, on 26 September 2008, by section 33(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30A(b)(i): amended, on 26 September 2008, by section 33(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30A(b)(ia): inserted, on 26 September 2008, by section 33(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30A(b)(ib): inserted, on 26 September 2008, by section 33(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Expiry of long-term certified emission reduction units and temporary certified emission reduction units

Heading: inserted, on 14 November 2006, by section 24 of the Climate Change Response Amendment Act 2006 (2006 No 59).

30B Expiry of long-term certified emission reduction units

(1) A long-term certified emission reduction unit expires at the end of the last crediting period for the clean development mechanism project to which it relates.
(2) A person who holds a long-term certified emission reduction unit in a retirement account or a long-term certified emission reduction replacement account must replace that unit before it expires by transferring one of the following units to the long-term certified emission reduction replacement account:
- (a) an assigned amount unit; or
- (b) a certified emission reduction unit; or
- (c) an emission reduction unit; or
- (d) a removal unit.
(3) Thirty days before a long-term certified emission reduction unit in a retirement account or a long-term certified emission reduction replacement account expires, the Registrar must notify in writing the person who holds that unit that it is due to expire and must be replaced.
(4) If a long-term certified emission reduction unit is not held in a retirement account or a long-term certified emission reduction replacement account, the Registrar must transfer that unit to the general cancellation account when that unit expires.
(5) If subsection (4) applies, then section 18C(3) does not apply.
Section 30B: inserted, on 14 November 2006, by section 24 of the Climate Change Response Amendment Act 2006 (2006 No 59).

30C Replacement of certain long-term certified emission reduction units

(1) A person who holds a long-term certified emission reduction unit must replace that unit in accordance with this section if the designated operating entity of the relevant clean development mechanism project—
- (a) provides a certification report that indicates a reversal of net anthropogenic greenhouse gas removals by sinks since the previous certification; or
- (b) does not provide a certification report.
(2) If subsection (1) applies,—
- (a) each identified long-term certified emission reduction unit, as notified by the executive board, must be replaced by one of the following units:
  - (i) assigned amount units; or
  - (ii) certified emission reduction units; or
  - (iii) emission reduction units; or
  - (iv) removal units; or
  - (v) long-term certified emission reduction units from the same clean development mechanism project; and
- (b) the Registrar must notify in writing the person who holds the affected long-term certified emission reduction unit.
(3) A person notified under subsection (2)(b) must replace the affected long-term certified emission reduction unit within 30 days of receiving the notice.
(4) Sections 354 to 361 of the Property Law Act 2007 apply, with all necessary modifications, to any notice required under subsection (2)(b).
Section 30C: inserted, on 14 November 2006, by section 24 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 30C(4): amended, on 1 January 2008, by section 364(1) of the Property Law Act 2007 (2007 No 91).

30D Expiry of temporary certified emission reduction units

(1) A temporary certified emission reduction unit expires at the end of the subsequent commitment period that immediately follows the relevant commitment period.
(2) A person who holds a temporary certified emission reduction unit in a retirement account or a temporary certified emission reduction replacement account must replace that unit before it expires by transferring one of the following units to the temporary certified emission reduction replacement account:
- (a) an assigned amount unit; or
- (b) a certified emission reduction unit; or
- (c) an emission reduction unit; or
- (d) a removal unit; or
- (e) a temporary certified emission reduction unit that is due to expire in a subsequent commitment period.
(3) Thirty days before a temporary certified emission reduction unit in a retirement account or a temporary certified emission reduction replacement account expires, the Registrar must notify in writing the person who holds that unit that it is due to expire and must be replaced.
(4) If a temporary certified emission reduction unit is not held in a retirement account or a temporary certified emission reduction replacement account, the Registrar must transfer that unit to the general cancellation account when that unit expires.
(5) If subsection (4) applies, then section 18C(3) does not apply.
Section 30D: inserted, on 14 November 2006, by section 24 of the Climate Change Response Amendment Act 2006 (2006 No 59).

Miscellaneous provisions

Heading: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30E Conversion of New Zealand units into designated assigned amount units for sale overseas or cancellation

(1) An account holder may apply to the Registrar to convert a New Zealand unit held by that person into a designated assigned amount unit held for the purposes of transferring that assigned amount unit to—
- (a) an account in an overseas registry; or
- (b) the general cancellation account.
(2) An account holder who applies to convert any New Zealand units into designated assigned amount units for either purpose specified in subsection (1) must—
- (a) submit the prescribed form to the Registrar specifying the New Zealand units that the account holder wishes to convert; and
- (b) submit an application under section 18C for the transfer of an equivalent number of designated assigned amount units (into which the account holder is converting the New Zealand units) to—
  - (i) an account in an overseas registry; or
  - (ii) the general cancellation account; and
- (c) pay the prescribed fee (if any).
(3) Upon receipt of an application under subsection (2) the Registrar must, as soon as practicable,—
- (a) transfer the New Zealand units specified in the application from the account holder’s account to the conversion account; and
- (b) transfer to the account holder’s account an equivalent number of designated assigned amount units; and
- (c) subject to section 21(3), register the transaction applied for under subsection (2)(b).
(4) If the Registrar receives notification from the international transaction log under section 21(3) that there are discrepancies in the transaction relating to the application submitted under subsection (2)(b), the Registrar must—
- (a) comply with section 21(3); and
- (b) reverse the transfers in subsection (3)(a) and (b).
(5) For the purposes of this section, designated assigned amount unit means an assigned amount unit that—
- (a) was issued by the Registrar on the basis of New Zealand’s initial assigned amount; and
- (b) is held by the Crown in a Crown holding account.
Section 30E: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30F Restrictions on certain New Zealand units allocated to landowners of pre-1990 forest land

(1) This section applies to any New Zealand units transferred or to be transferred after 31 December 2012 in accordance with the pre-1990 forest land allocation plan issued under section 70.
(2) [Repealed]
(3) If the activity listed in Part 1 of Schedule 3 is repealed, the Minister of Finance may issue a direction to the Registrar under section 7 to transfer from any holding account to a cancellation account any New Zealand units to which this section applies.
Section 30F: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30F(1): substituted, on 8 December 2009, by section 20 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 30F(2): repealed, on 8 December 2009, by section 20 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

30G Regulations relating to Part 2

(1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations for any or all of the following purposes:
- (a) prescribing procedures and requirements relating to any powers of the Minister of Finance under subpart 1 of this Part:
- (b) prescribing matters, including (but not limited to) limitations, restrictions, conditions, exemptions, requirements, or prohibitions, in respect of—
  - (i) the transfer of units, including (but not limited to)—
    - (A) the transfer of units from an account holder’s holding account to an account in an overseas registry:
    - (B) the transfer of units within the unit register:
    - (C) the transfer of units from an overseas registry:
    - (D) prohibitions on the transfer of units for the purposes of holding those units in an account in the Registry:
  - (ii) the opening or closing of holding accounts:
- (c) prescribing matters in respect of the holding, surrender, conversion, and cancellation of units, including (but not limited to) limitations, restrictions, conditions, exemptions, requirements, procedures, or thresholds:
- (d) prescribing matters in respect of the carry-over of assigned amount units, certified emission reduction units, and emission reduction units, including (but not limited to) limitations, restrictions, conditions, exemptions, requirements, procedures, or thresholds:
- (e) prescribing procedures, requirements, and other matters in respect of the unit register and its operation, including, but not limited to, matters relating to—
  - (i) access to the unit register:
  - (ii) the location of the unit register:
  - (iii) the hours of access to the unit register:
  - (iv) the format of unique numbers to be used in the unit register:
  - (v) the allocation of unique serial numbers to New Zealand units and approved overseas units:
  - (vi) the exchange of data between—
    - (A) the Registry and overseas registries:
    - (B) the Registry and the international transaction log:
  - (vii) the registration of transactions:
  - (viii) the form and content of the unit register:
- (f) prescribing matters in respect of which fees are payable under this Part, the amounts of those fees, and the procedures for payment:
- (g) prescribing procedures, requirements, and other matters in respect of the form, use, and manner of obtaining electronic verification statements to confirm a registration:
- (h) prescribing procedures, requirements, and other matters in respect of searching the unit register, including, but not limited to,—
  - (i) the criteria by which a search may be conducted:
  - (ii) the method of disclosure:
  - (iii) the form of search results:
  - (iv) the abbreviations, expansions, or symbols that may be used in search results:
- (i) prescribing forms and notices for the purposes of this Part:
- (j) prescribing, for the purpose of the definition of overseas registry, overseas registries from which and to which units may be transferred to and from accounts in the Registry:
- (k) prescribing the units issued by an overseas registry that may be transferred to accounts in the Registry:
- (l) prescribing procedures for transactions involving approved overseas units:
- (m) prescribing matters in respect of the taking of possession of an emissions unit for the purposes of section 18(1A)(b) of the Personal Property Securities Act 1999:
- (n) in respect of this Part, giving effect to the terms of the Convention and the Protocol, including any decisions, rules, guidelines, principles, measures, methodologies, modalities, procedures, mechanisms, or other matters adopted, agreed on, made, or approved in accordance with the Convention or the Protocol:
- (o) providing for the matters that are contemplated by, or necessary for, giving full effect to this Part and for its due administration.
(2) Regulations made under subsection (1) may be made in respect of different units, transactions, persons, classes of units, subclasses of units, classes of transactions, or classes of persons.
(3) Any regulation made under subsection (1)(b)(i) or (c) does not apply to the transfer of units that are held in an account in the Registry at the time that the regulation comes into force.
(3A) The amount of fees set under regulations made under subsection (1)(f) must not exceed the amount necessary to enable the recovery of the direct and indirect costs of the Registrar in performing his or her functions under this Part.
(4) Any regulations made under subsection (1) must be consistent with the Convention and the Protocol.
Section 30G: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 30G(3A): inserted, on 5 December 2011, by section 9 of the Climate Change Response Amendment Act 2011 (2011 No 15).

30H Procedure for certain regulations relating to units

(1) Before making a recommendation under section 30G(1) relating to regulations under section 30G(1)(b)(i), (c), (d), (j) or (k), the Minister must consult, or be satisfied that the chief executive has consulted, the persons (or representatives of those persons) that appear to the Minister or the chief executive likely to be substantially affected by any regulations made in accordance with the recommendation.
(2) The process for consultation must, to the extent practicable in the circumstances, include—
- (a) giving adequate and appropriate notice of the proposed terms of the recommendation, and of the reasons for it; and
- (b) the provision of a reasonable opportunity for interested persons to consider the recommendation and make submissions; and
- (c) adequate and appropriate consideration of submissions.
(3) Unless subsection (4) applies or a later date is specified in the regulations, regulations referred to in this section come into force 3 months after the date of their notification in the Gazette.
(4) Subsections (1) and (3) do not apply in respect of any regulations if the Minister considers it is in the national interest that they be made urgently.
(5) A failure to comply with this section does not affect the validity of regulations made under section 30G(1)(b)(i), (c), (d), (j), or (k).
Section 30H: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30I Incorporation by reference in regulations made under section 30G

(1) The following written material may be incorporated by reference in regulations made under section 30G:
- (a) decisions, rules, guidelines, principles, measures, methodologies, modalities, procedures, mechanisms, or other matters adopted, agreed on, made, or approved by any international or national organisation in accordance with the Convention or the Protocol; and
- (b) any standards, requirements, or recommended practices—
  - (i) of any international or national organisation that are adopted, agreed on, made, or approved in accordance with the Convention or the Protocol:
  - (ii) prescribed in any country or jurisdiction that are adopted, agreed on, made, or approved in accordance with the Protocol.
(2) Material may be incorporated by reference in regulations—
- (a) in whole or in part; and
- (b) with modifications, additions, or variations specified in the regulations.
(3) Material incorporated by reference in regulations has legal effect as part of the regulations.
(4) Sections 170 to 177 apply to material incorporated by reference into regulations under section 30G as though all references to sections 163 to 165, 167, and 168 were references to section 30G and all references to the chief executive were references to the Registrar.
Section 30I: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30J Signing false declaration with respect to regulations made under section 30G

Every person who signs a declaration that is required under regulations made under section 30G, knowing the declaration to be false,—
- (a) commits an offence; and
- (b) is liable on conviction to a fine not exceeding $5,000.
Section 30J: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

30K Providing false or misleading information to Registrar

(1) Every person who knowingly provides false or misleading information to the Registrar commits an offence and is liable on conviction to a fine not exceeding,—
- (a) in the case of an individual, $50,000:
- (b) in the case of a body corporate, $200,000.
(2) Every person who recklessly provides false or misleading information to the Registrar commits an offence, and is liable on conviction to a fine not exceeding $2,000.
Section 30K: inserted, on 26 September 2008, by section 34 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Part 3
Inventory agency

Part 3 heading: inserted, on 26 September 2008, by section 35 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

31 Meaning of greenhouse gas

For the purposes of this subpart, despite anything in section 4, greenhouse gas means a gas in the earth's atmosphere that strongly absorbs and re-emits infrared radiation, and includes indirect greenhouse gases, but does not include a gas that is covered by the Montreal Protocol on Substances that Deplete the Ozone Layer.

32 Primary functions of inventory agency

(1) The primary functions of the inventory agency are to—
- (a) estimate annually New Zealand's human-induced emissions by sources and removals by sinks of greenhouse gases; and
- (b) prepare the following reports for the purpose of discharging New Zealand's obligations:
  - (i) New Zealand's annual inventory report under Article 7.1 of the Protocol, including (but not limited to) the quantities of long-term certified emission reduction units and temporary certified emission reduction units that have expired or have been replaced, retired, or cancelled; and
  - (ii) New Zealand's national communication (or periodic report) under Article 7.2 of the Protocol and Article 12 of the Convention; and
  - (iii) New Zealand's report for the calculation of its initial assigned amount under Article 7.4 of the Protocol, including its method of calculation.
(2) In carrying out its functions, the inventory agency must—
- (a) identify source categories; and
- (b) collect data by means of—
  - (i) voluntary collection; and
  - (ii) collection from government agencies and other agencies that hold relevant information; and
  - (iii) collection in accordance with regulations made under this Part (if any); and
- (c) estimate the emissions and removals by sinks for each source category; and
- (d) undertake assessments on uncertainties; and
- (e) undertake procedures to verify the data; and
- (f) retain information and documents to show how the estimates were determined.
Section 32(1)(b)(i): amended, on 14 November 2006, by section 25 of the Climate Change Response Amendment Act 2006 (2006 No 59).
Section 32(2)(b)(iii): amended, on 26 September 2008, by section 36 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

33 Inventory agency under direction of Minister

(1) The inventory agency must comply with any direction from the Minister in relation to the performance of its functions under this Part.
(2) As soon as practicable after giving the direction, the Minister must make a copy of the direction accessible via the inventory agency's Internet site.
Section 33 heading: amended, on 26 September 2008, by section 37(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 33(1): amended, on 26 September 2008, by section 37(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 33(1): amended, on 26 September 2008, by section 37(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 33(2): amended, on 26 September 2008, by section 37(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 33(2): amended, on 14 November 2006, by section 26 of the Climate Change Response Amendment Act 2006 (2006 No 59).

34 Record keeping

The inventory agency must keep a record of changes that occur from year to year in—
- (a) the collection of data; and
- (b) the use of methodologies and emission factors.

35 Publication

The inventory agency must publish New Zealand's annual inventory report and its national communication (or periodic report) in electronic form by placing the report on a publicly accessible portion of the inventory agency's Internet site.
Section 35: substituted, on 1 August 2003, by section 27 of the Climate Change Response Amendment Act 2006 (2006 No 59).

Inspectors

Heading: substituted, on 26 September 2008, by section 38 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

36 Authorisation of inspectors

(1) The Minister may authorise the following persons, provided that they are suitably qualified and trained, to exercise any or all of the powers of, and carry out any or all of the duties of an inspector under this Part:
- (a) employees of the inventory agency; or
- (b) employees of the Ministry of Agriculture and Forestry and employees of any other department of the public service prescribed by regulation; or
- (c) employees of New Zealand Forest Research Institute Limited, Landcare Research New Zealand Limited, New Zealand Pastoral Agriculture Research Institute Limited, and employees of any other Crown Research Institute (within the meaning of the Crown Research Institutes Act 1992) prescribed by regulation; or
- (d) employees of the EPA.
(2) An authorisation is subject to the terms and conditions that are agreed to by the Minister and the chief executive of the agency that employs the person authorised to be an inspector.
(3) The Minister must supply an inspector with a warrant of authorisation that clearly states the powers and duties of that inspector.
(4) An inspector who exercises, or purports to exercise, a power conferred on that inspector under this Part must carry and be able to produce, if required to do so,—
- (a) his or her warrant of authorisation; and
- (b) evidence of his or her identity.
(5) An inspector who holds a warrant of authorisation issued under this section must, on the termination of that inspector's authorisation, surrender his or her warrant of authorisation to the Minister.
Section 36(1): amended, on 26 September 2008, by section 39(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 36(1): amended, on 26 September 2008, by section 39(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 36(1)(c): amended, on 5 December 2011, by section 10 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 36(1)(d): added, on 5 December 2011, by section 10 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 36(2): amended, on 26 September 2008, by section 39(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 36(3): amended, on 26 September 2008, by section 39(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 36(4): amended, on 26 September 2008, by section 39(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 36(5): amended, on 26 September 2008, by section 39(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

37 Power to enter land or premises to collect information to estimate emissions or removals of greenhouse gases

(1) For the purposes of collecting information to assist with the estimation of New Zealand's human-induced emissions by sources and removals by sinks of greenhouse gases, an inspector may, if authorised in writing by the Minister, enter or re-enter land, or premises where any livestock are likely to be held, excluding any dwellinghouse, at any reasonable time during the ordinary hours of business, to—
- (a) carry out surveys, investigations, tests, or measurements (including those that involve leaving measuring equipment on the land or premises):
- (b) take samples of water, air, soil, or organic matter.
(2) To avoid doubt, the authorisation given by the Minister may be for a series of surveys, investigations, tests, measurements, or samples.
(3) Reasonable notice, in writing, must be given to the occupier (if any) of the land or premises to be entered that specifies—
- (a) when, and by what means, entry is to be made; and
- (b) the purpose for which entry is required; and
- (c) that the entry is authorised under this section.
(4) Reasonable effort must be made to give notice under subsection (3) to the owner or owners of the land or premises.
(5) If the owner or owners are not given notice, reasonable effort must be made to identify any wāhi tapu areas and archaeological sites on the land by other means.
(6) An inspector who exercises the power of entry under this section may use any assistance that is reasonably necessary to exercise the power.
(7) A person who provides assistance under subsection (6) may exercise the powers provided to inspectors under subsection (1).
Section 37(1): amended, on 26 September 2008, by section 40 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 37(2): amended, on 26 September 2008, by section 40 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

38 Limitation on power of entry under section 37

The Minister may only authorise an inspector to exercise the power of entry under section 37 if satisfied that the information sought—
- (a) requires specific technical expertise to collect; and
- (b) cannot reasonably be obtained from the occupier or owner of the land or premises.
Section 38: amended, on 26 September 2008, by section 41 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

39 Power of entry for inspection

(1) An inspector authorised in writing by the inventory agency may enter land or premises (excluding any dwellinghouse) at any reasonable time during the ordinary hours of business, for the purpose of inspection, to determine whether or not a person is complying with regulations made under section 50(2)(a), (c), (e), or (f).
(2) During an inspection, an inspector may—
- (a) require the production of, inspect, and copy any documents or business records (including electronic documents or records):
- (b) take samples of water, air, soil, or organic matter:
- (c) carry out surveys, investigations, tests, or measurements (including those that involve leaving measuring equipment on the land or premises):
- (d) demand from the occupier any other information that the inspector may reasonably require for the purpose of determining whether or not regulations made under section 50(2)(a), (c), (e), or (f) have been complied with.
(3) An inspector who exercises the power of inspection under this section must give the occupier or owner reasonable notice of the inspector's intention to enter the land or premises unless doing so would defeat the purpose of the entry.
(4) A notice given under subsection (3) must specify—
- (a) when entry is to be made; and
- (b) the purpose for which the entry is required; and
- (c) that the entry is authorised under this section.
(5) An inspector who exercises the power of inspection under this section may be accompanied by any person or persons reasonably necessary to assist him or her with the inspection.
(6) A person who provides assistance under subsection (5) may exercise the powers provided to inspectors under subsection (2)(a) to (c).
(7) Nothing in this section limits the privilege against self-incrimination.

40 Applications for warrants

(1) A District Court Judge who, on written application made on oath by an inspector authorised by the inventory agency, is satisfied that there are reasonable grounds to believe that there are in or on or under or over any land, premises, or dwellinghouse any documents or other records or things (including samples) for which there are reasonable grounds to believe may be evidence of the commission of an offence under section 46 may issue a warrant authorising the entry and search of that land, premises, or dwellinghouse.
(2) Every search warrant must authorise the inspector executing the warrant to—
- (a) enter and search the land, premises, or dwellinghouse within 30 working days of the date of the warrant at any time that is reasonable in the circumstances during the ordinary hours of business; and
- (b) require the production, inspection, and copying of documents or business records (including electronic documents or records); and
- (c) demand from the occupier any other information that the inspector may reasonably require for the purpose of determining whether or not the regulations made under section 50(2) have been complied with; and
- (d) seize any documents or business records that the inspector has reasonable cause to suspect may be evidence of the commission of an offence under section 46; and
- (e) take samples of water, air, soil, or organic matter; and
- (f) use any assistance that is reasonably necessary in the circumstances; and
- (g) use any force to enter (whether by breaking doors or otherwise) that is reasonable in the circumstances.
(3) An inspector may not enter a dwellinghouse unless that inspector is accompanied by a constable.
(4) A person who provides assistance under subsection (2)(f) may exercise the powers provided to inspectors under subsection (2)(a), (b), (d), (e), and (g).
(5) Nothing in this section limits the privilege against self-incrimination.
Section 40(3): amended, on 1 October 2008, pursuant to section 116(a)(ii) of the Policing Act 2008 (2008 No 72).

41 Entry of defence areas

Despite anything in sections 37, 39, and 40, an inspector may not enter a defence area (within the meaning of section 2(1) of the Defence Act 1990), except in accordance with a written agreement between the inventory agency and the Chief of Defence Force on the date or dates specified in that agreement.

42 Proof of authority must be produced

If powers are exercised under section 37 or section 39 or section 40, an inspector must, on initial entry, and if asked by the occupier at any time afterward, produce for inspection that inspector's—
- (a) warrant of authorisation and evidence of his or her identity; and
- (b) written authorisation to enter required under section 37 or section 39 or a search warrant required under section 40.

43 Notice of entry

(1) If, when powers are exercised under section 37 or section 39 or section 40, the occupier is not present at the time that the written authorisation or search warrant is executed, and notice is not given to the owner or owners under section 37 or section 39, the inspector must, in a prominent place, attach a written notice that shows—
- (a) the date and time of the entry or search; and
- (b) the purpose of the entry or search; and
- (c) the name and phone number of that inspector; and
- (d) an address at which enquiries may be made.
(2) If the inspector removes, or has removed, any documents or business records from any land, premises, or dwellinghouse, the inspector must hand to the occupier, or attach in a prominent place, a notice that—
- (a) lists all of the items taken; and
- (b) states where those items are being held (and, if they are being held in 2 or more places, state which items are being held in which place); and
- (c) states the procedure that the person must follow to have those items returned.

44 Information obtained under section 39 or section 40 only admissible in proceedings for alleged breach of regulations made under section 50(2)

No document, business record, or other information obtained from a person under section 39 or section 40 is admissible against that person in any criminal or civil proceedings, other than proceedings for an alleged breach of regulations made under section 50(2).

45 Return of items seized

Section 199 of the Summary Proceedings Act 1957 applies, with the necessary modifications, to any property seized or taken by an inspector as if—
- (a) references in that section to a constable were references to an inspector; and
- (b) the reference in that section to section 198 of that Act were a reference to section 39 or section 40 of this Act.

45A Protection of persons acting under authority of this Part

No inspector or person called upon to assist an inspector who does an act or omits to do an act when carrying out a duty, performing a function, or exercising a power conferred on that person by this Part is under any civil or criminal liability in respect of that act or omission unless the person has acted or omitted to act in bad faith or without reasonable cause.
Section 45A: inserted, on 26 September 2008, by section 42 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Offences and penalties

46 Failing to provide required information to inventory agency

Every person who fails, without reasonable excuse, to provide the information to the inventory agency required under regulations made under section 50(2)—
- (a) commits an offence; and
- (b) is liable on conviction to a fine not exceeding,—
  - (i) in the case of an individual, $5,000; or
  - (ii) in the case of a body corporate, $30,000.

47 Obstructing, hindering, resisting, or deceiving person exercising power under Part

Every person—
- (a) commits an offence who—
  - (i) wilfully obstructs, hinders, resists, or deceives a person exercising a power conferred on that person under this Part or regulations made under this Part; or
  - (ii) wilfully interferes with any survey, investigation, test, or measurement carried out by an inspector under this Part; or
  - (iii) refuses to provide information that an inspector has demanded from that person under section 39(2)(d) or section 40(2)(c), except on the grounds of self-incrimination; and
- (b) is liable on conviction to a fine not exceeding,—
  - (i) in the case of an individual, $5,000; or
  - (ii) in the case of a body corporate, $30,000.
Section 47 heading: amended, on 26 September 2008, by section 43(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 47(a)(i): amended, on 26 September 2008, by section 43(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 47(a)(ii): amended, on 26 September 2008, by section 43(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

48 Signing false declaration in respect of regulations made under section 50

Every person who signs a declaration that is required by regulations made under section 50, knowing the declaration to be false,—
- (a) commits an offence; and
- (b) is liable on conviction to a fine not exceeding $5,000.
Section 48 heading: amended, on 26 September 2008, by section 44 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

48A Providing false or misleading information to Registrar

[Repealed]
Section 48A: repealed, on 26 September 2008, by section 45 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Miscellaneous provisions

49 Reporting

For the purpose of reporting to the Secretariat under the Convention and the Protocol, the Minister may, as and when the Minister thinks fit, direct the inventory agency or the Registrar to provide reports and information to the Minister or directly to the Secretariat.
Section 49: amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

50 Regulations

(1) The Governor-General may, by Order in Council, make regulations for any or all of the following purposes:
- (a) [Repealed]
- (b) prescribing agencies whose employees may act as inspectors under section 36, being—
  - (i) a Department of the Public Service listed in Schedule 1 of the State Sector Act 1988; or
  - (ii) a Crown Research Institute within the meaning of the Crown Research Institutes Act 1992:
- (c) [Repealed]
- (ca) [Repealed]
- (d) [Repealed]
- (e) [Repealed]
- (f) [Repealed]
- (g) [Repealed]
- (h) [Repealed]
- (i) prescribing forms and notices for the purposes of this Part:
- (j) for the purposes of, and subject to, Part 2, giving effect to the terms of the Convention and the Protocol, including any decisions, rules, guidelines, principles, measures, methodologies, modalities, procedures, mechanisms, or other matters adopted, agreed on, made, or approved in accordance with the Convention or the Protocol:
- (k) providing for the matters that are contemplated by, or necessary for, giving full effect to this Part and for its due administration.
(2) If recommended by the Minister, the Governor-General may, by Order in Council, make regulations requiring persons to keep and provide information to the inventory agency for the purpose of estimating New Zealand's human-induced emissions by sources and removals by sinks of greenhouse gases on any or all of the following:
- (a) emissions of greenhouse gases into the atmosphere from industrial or trade premises:
- (b) volumes of fuel produced, distributed, sold, or used, and the nature of the use of that fuel:
- (c) industrial processes, including by-products from industrial processes:
- (d) composition of vehicle fleets and use of vehicles, including, but not limited to, distances travelled:
- (e) imports and exports of hydrofluorocarbons, perfluorocarbons, and sulphur hexafluoride:
- (f) imports, exports, manufacture, sales, and the nature of the use of products that contain hydrofluorocarbons, perfluorocarbons, and sulphur hexafluoride:
- (g) waste composition and weight, dimensional characteristics of landfills, and volume of landfill gases extracted and combusted:
- (h) numbers of ruminants and other farmed livestock and their performance:
- (i) areas of crops and amounts produced:
- (j) amount of nitrogenous and lime fertilisers used:
- (k) native and planted trees, the amount of harvesting, the area of land in scrub, and the area of land in other land uses that are necessary to determine land use change under Article 3.3 or Article 3.4 of the Protocol.
(3) If recommended by the Minister, the Governor-General may, by Order in Council, make regulations requiring persons to provide to the inventory agency information that the person holds on any matter specified in subsection (2) for any year from 1989 to the current reporting year.
(4) Regulations made under subsection (2) may specify the manner and form in which records must be kept and provided, including specifying that those records must be declared as true, the form of that declaration, and who must sign that declaration.
(5) Regulations made under subsection (1) or (2) may be made in respect of different persons or classes of persons.
(6) For the purposes of subsection (5), classes of persons includes local authorities.
(7) Any regulations made under this section must be consistent with—
- (a) this Act; and
- (b) the Convention; and
- (c) the Protocol.
(8) The Governor-General may, by Order in Council, make regulations—
- (a) amending Schedule 1 by making any amendments to the text of the Convention set out in that schedule as are required to bring the text up to date:
- (b) revoking Schedule 1 and substituting a new schedule setting out in an up-to-date form the text of the Convention:
- (c) amending Schedule 2 by making any amendments to the text of the Protocol set out in that schedule as are required to bring the text up to date:
- (d) revoking Schedule 2 and substituting a new schedule setting out in an up-to-date form the text of the Protocol.
Section 50(1)(a): repealed, on 26 September 2008, by section 47(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(c): repealed, on 26 September 2008, by section 47(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(ca): repealed, on 26 September 2008, by section 47(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(d): repealed, on 26 September 2008, by section 47(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(e): repealed, on 26 September 2008, by section 47(5) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(f): repealed, on 26 September 2008, by section 47(6) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(g): repealed, on 26 September 2008, by section 47(7) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(h): repealed, on 26 September 2008, by section 47(8) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(i): amended, on 26 September 2008, by section 47(9) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(1)(k): amended, on 26 September 2008, by section 47(10) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(2): amended, on 26 September 2008, by section 47(11) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(3): amended, on 26 September 2008, by section 47(11) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(5): substituted, on 26 September 2008, by section 47(12) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 50(8): added, on 8 December 2009, by section 21 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

51 Incorporation by reference in regulations made under section 50

(1) The following written material may be incorporated by reference in regulations made under section 50:
- (a) decisions, rules, guidelines, principles, measures, methodologies, modalities, procedures, mechanisms, or other matters adopted, agreed on, made, or approved by any international or national organisation in accordance with the Convention or the Protocol; and
- (b) any standards, requirements, or recommended practices—
  - (i) of any international or national organisation that are adopted, agreed on, made, or approved in accordance with the Convention or the Protocol:
  - (ii) prescribed in any country or jurisdiction that are adopted, agreed on, made, or approved in accordance with the Protocol.
(2) Material may be incorporated by reference in regulations—
- (a) in whole or in part; and
- (b) with modifications, additions, or variations specified in the regulations.
(3) Material incorporated by reference in regulations has legal effect as part of the regulations.
(4) Sections 170 to 177 apply to material incorporated by reference into regulations under section 50 as though all references to sections 163 to 165, 167, and 168 were references to section 50 and all references to the chief executive were references to the inventory agency.
Section 51: substituted, on 26 September 2008, by section 48 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

52 Inventory agency must report to Minister on certain matters before certain regulations are made

(1) Before regulations are made under section 50(2) or (3), the inventory agency must provide a report to the Minister on—
- (a) whether or not the information to be collected under the regulations is reasonably available to the inventory agency by other means, including, but not limited to,—
  - (i) voluntary collection; or
  - (ii) collection from a government agency that holds the information (provided that the release of the information by that government agency complies with the principles of the Privacy Act 1993 and any provisions of the enactment under which the information was collected); and
- (b) any deficiencies with collecting the information using those other means, including, but not limited to,—
  - (i) deficiencies in obtaining the required quality of information; and
  - (ii) the lack of certainty that all the required information can be provided; and
- (c) whether or not the regulations are likely to place a disproportionate burden on any particular group of persons.
(2) When preparing a report under subsection (1), the inventory agency must consult any person or government agency that is likely to be affected by the proposed regulations.
(3) With respect to a report prepared under subsection (1), the Minister—
- (a) must have regard to the report and to the results of consultation; and
- (b) may make, as he or she thinks fit, recommendations to the Governor-General to make regulations under section 50(2) or (3).
(4) The Minister may not recommend the making of regulations under section 50(2) and (3) unless he or she is satisfied, on reasonable grounds, that the regulations are necessary to assist New Zealand to meet its obligations under the Convention or the Protocol.
Section 52 heading: amended, on 26 September 2008, by section 49(1) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 52(1): amended, on 26 September 2008, by section 49(2) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 52(3): amended, on 26 September 2008, by section 49(3) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 52(4): amended, on 26 September 2008, by section 49(4) of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

53 Consequential amendments

Amendment(s) incorporated in the Act(s).

Part 4
New Zealand greenhouse gas emissions trading scheme

Part 4: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

Subpart 1—Participants

Subpart 1: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).

54 Participants

(1) A person is a participant,—
- (a) in respect of an activity listed in Schedule 3, if the person—
  - (i) is required under section 180, 204, or 213 to be treated as the person carrying out the activity; or
  - (ii) if subparagraph (i) does not apply, carries out the activity; and
- (b) in relation to an activity listed in Schedule 4, if the person—
  - (i) carries out the activity, is registered as a participant under section 57 in respect of the activity, and that registration has taken effect; or
  - (ii) becomes a participant under section 192 in respect of the activity and is not removed from the register in respect of that activity.
(2) Any reference in this Part or Part 5 to a person or participant carrying out an activity must be read as referring to the person who is to be treated under section 180, 204, or 213 as carrying out the activity, or if those sections do not apply, to the person or participant carrying out the activity.
(3) Subsection (1)(a) is subject to any exemption under an Order in Council made under section 60.
(4) A person who was a participant under subsection (1) continues to be a participant for the purposes of this Act in respect of any obligations (including, but not limited to, the obligation to retain records in accordance with section 67), or entitlements under section 64, arising in respect of an activity listed in Schedule 3 or 4 that the person carried out while a participant.
(5) The EPA must ensure that the registers, or the information contained in the registers, kept for the purposes of section 56 or 57 are open for public inspection, without fee, on the EPA's Internet site and in any other form the EPA considers appropriate.
Section 54: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 54(1)(a)(i): amended, on 8 December 2009, by section 22(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 54(1)(b)(ii): amended, on 8 December 2009, by section 22(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 54(2): amended, on 8 December 2009, by section 22(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 54(4): amended, on 8 December 2009, by section 22(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 54(5): substituted, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

55 Associated persons

(1) This section applies if an activity listed in Schedule 3 has a threshold below or above which a person becomes a participant.
(2) If this section applies, persons who are associated persons are to be treated as 1 person for the purpose of determining whether the threshold is met.
(3) If a threshold for an activity listed in Schedule 3 is met by associated persons, each of the associated persons—
- (a) is to be treated as carrying out the activity for the purposes of this Act; and
- (b) may elect to comply with this Part and Part 5 as a—
  - (i) participant in relation to the activity; or
  - (ii) member of an unincorporated body; or
  - (iii) member of a consolidated group under section 150, if the associated person qualifies to be a member of a consolidated group.
Section 55: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 55(3)(b)(ii): substituted, on 8 December 2009, by section 23(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 55(3)(b)(iii): amended, on 8 December 2009, by section 23(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

56 Registration as participant in respect of activities listed in Schedule 3

(1) A person who carries out an activity listed in Schedule 3 must—
- (a) notify the EPA that the person is a participant in respect of the activity; and
- (b) if the person does not already have a holding account—
  - (i) apply to open a holding account under section 18A at the time the person notifies the EPA under paragraph (a); and
  - (ii) supply the account number of the holding account, or ensure that the account number of the holding account is supplied, to the EPA within 10 working days of receiving the account number from the Registrar.
(2) A notice under subsection (1)(a) must—
- (a) be submitted to the EPA within 20 working days of the person becoming a participant in respect of the activity; and
- (b) be in the prescribed form; and
- (c) contain—
  - (i) the name of the person; and
  - (ii) the details of the activity that the person carries out; and
  - (iii) any other information that the EPA may require; and
  - (iv) if the person already has 1 or more holding accounts, the account number of the holding account that the person wishes to use for the purpose of section 61(1).
(3) The EPA must, as soon as practicable after receiving a notice under subsection (1)(a),—
- (a) enter on a register kept by the EPA for the purpose of this section—
  - (i) the name of the person; and
  - (ii) the activity that the person carries out; and
- (b) notify the person that the person’s name and the activity the person carries out have been entered on the register.
(4) If the EPA receives a notice under subsection (1)(a) from a person whose name is already on the register kept in accordance with subsection (3), the EPA need not re-enter the person’s name on the register, but must enter next to the person’s name the activity that is specified in the notice, and notify the person that the activity has been entered on the register next to the person's name.
Section 56: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 56(1)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(1)(b)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(1)(b)((ii): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(2)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(2)(c)(iii): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(3): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(3)(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 56(4): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

57 Applications to be registered as participant in respect of activities listed in Schedule 4

(1) A person who carries out an activity listed in Schedule 4, or who will do so at the time that the person’s registration takes effect, may apply to be registered as a participant in respect of the activity by application to the EPA in accordance with subsection (2).
(2) An application under subsection (1) must—
- (a) be in the prescribed form; and
- (b) be accompanied by—
  - (i) any information that the EPA may require; and
  - (ii) the prescribed fee (if any); and
- (c) if the person already has 1 or more holding accounts, contain the account number of the holding account that the person wishes to use for the purpose of section 61(1).
(3) Any person who does not have a holding account at the time the person submits an application under subsection (1) must—
- (a) apply to open a holding account under section 18A at the time the person submits the application; and
- (b) supply the account number of the holding account to the EPA within 10 working days of receiving an account number from the Registrar.
(4) Following the receipt of an application under subsection (1), the EPA must register the person in accordance with subsections (5) and (7) if satisfied that the person—
- (a) in respect of the activity listed in Schedule 4 specified in the application—
  - (i) is carrying out the activity in the year in which the EPA receives the application; or
  - (ii) will carry out the activity in the year in which the person’s registration will take effect in accordance with subsection (8); and
- (b) has met any conditions of registration in respect of the activity in this Part or Part 5; and
- (c) has paid any prescribed fees or charges.
(5) The EPA registers a person by entering on a register kept by the EPA for the purpose of this section—
- (a) the name of the applicant; and
- (b) the activity carried out by the applicant; and
- (c) the date from which the applicant’s registration as a participant in respect of the activity will take effect in accordance with subsection (8).
(6) After registering a person under subsection (5), the EPA must notify the following persons that the person has been registered as a participant in respect of the activity and the date from which the registration will take effect:
- (a) the applicant; and
- (b) by notice issued on the same date as the notice to the applicant, any other persons required to be notified under section 188(6)(a), 198(2)(a), or 209(2)(a), as the case may require.
(7) If the EPA receives an application under subsection (1) in respect of an activity listed in Part 2, 3, or 4 of Schedule 4, then the EPA must, within 20 working days of receiving the application,—
- (a) decline the application; or
- (b) register the applicant under subsection (5), unless the EPA requires further information from the applicant in order to satisfy himself or herself that the person is carrying out the activity specified in the application, in which case the EPA must either register the person within 20 working days of receiving the further information or decline the application.
(8) The registration of a person takes effect from the date the person’s name is entered on the register under subsection (5) or any later date required by section 198(2)(b), or 209(2)(b).
(9) If the EPA receives an application under subsection (1) from a person whose name is already on the register kept in accordance with subsection (5), and registers the person in respect of the activity specified in the application, the EPA need not re-enter the person’s name on the register, but must enter next to the person’s name the activity that is specified in the application, and notify the person that the activity has been entered on the register next to the person's name.
Section 57: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 57(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(2)(b)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(3)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(4): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(4)(a)(i): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(4)(b): amended, on 8 December 2009, by section 24(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 57(4)(c): added, on 8 December 2009, by section 24(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 57(5): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(6): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(6)(b): amended, on 8 December 2009, by section 24(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 57(7): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(7): amended, on 8 December 2009, by section 24(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 57(7)(b): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 57(8): amended, on 8 December 2009, by section 24(4) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 57(9): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

58 Removal from register of participants in respect of activities listed in Schedule 4

(1) A person who is registered under section 57 as a participant in respect of an activity listed in Schedule 4 may apply to have that person’s name removed from the register in respect of the activity by application to the EPA in accordance with subsection (2).
(2) An application under subsection (1) must—
- (a) be in the prescribed form; and
- (b) be accompanied by the prescribed fee (if any).
(3) Following receipt of an application under subsection (1), the EPA must—
- (a) note on the register—
  - (i) that the applicant has applied to be removed from the register as a participant in respect of the activity; and
  - (ii) the date on which the applicant’s name is to be removed in accordance with subsection (4); and
- (b) notify the applicant of the date on which the applicant’s name was, or is to be, removed from the register in accordance with subsection (4); and
- (c) notify, by notice issued on the same date as the notice to the applicant under paragraph (b), any other persons required to be notified under section 188(7)(a)(i), 198(3)(a), or 209(3)(a), as the case may require,—
  - (i) that the applicant has applied to have the applicant’s name removed from the register as a participant in respect of the activity; and
  - (ii) the date that the applicant’s name was, or is to be, removed in accordance with subsection (4).
(4) The EPA must remove the name of an applicant under subsection (1) from the register in respect of the activity specified in the application immediately or on any later date required by section 188(7)(a)(ii), 198(3)(b), or 209(3)(b).
Section 58: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 58(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 58(3): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 58(3)(c): amended, on 8 December 2009, by section 25(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 58(4): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 58(4): amended, on 8 December 2009, by section 25(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

59 Removal from register of participants in respect of activities listed in Schedules 3 and 4

(1) A person who is registered under section 56 or 57 in respect of an activity listed in Schedule 3 or 4 must notify the EPA as soon as practicable if the person ceases, or will cease, to carry out the activity.
(2) The EPA must, after receiving notice under subsection (1), or otherwise being satisfied that the person has ceased to carry out the activity,—
- (a) remove the name of the person from the register in respect of the activity immediately or, if the notice specifies that the person will cease the activity on a future date, on that date; and
- (b) notify the person, and any other person specified in section 188(7)(a)(i), 198(3)(a), or 209(3)(a), as the case may require, that the person’s name—
  - (i) has been removed from the register in respect of the activity; or
  - (ii) if the person’s name will be removed from the register in respect of the activity on a future date, that the person’s name will be removed from the register in respect of the activity on that date.
(3) This section is subject to sections 200 and 211.
Section 59: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 59(1): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 59(2): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 59(2)(b): amended, on 8 December 2009, by section 26(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 59(3): amended, on 8 December 2009, by section 26(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

60 Exemptions in respect of activities listed in Schedule 3

(1) The Governor-General may, by Order in Council made on the recommendation of the Minister, exempt any person or class of persons carrying out an activity listed in Schedule 3 from being a participant under this Act in respect of—
- (a) the activity; or
- (b) part of the activity; or
- (c) a proportion of the emissions from the activity; or
- (d) a combination of the matters specified in paragraphs (a) to (c).
(1A) An Order in Council made under subsection (1) may specify any terms and conditions (including, but not limited to, terms and conditions imposing geographical or operational restrictions) that the Governor-General thinks fit.
(2) Before recommending the making of an order under subsection (1), the Minister must be satisfied that—
- (a) the order will not materially undermine the environmental integrity of the greenhouse gas emissions trading scheme established under this Act; and
- (b) the costs of making the order do not exceed the benefits of making the order.
(3) In determining whether to recommend the making of an order under subsection (1), the Minister must have regard to the following matters:
- (a) the need to maintain the environmental integrity of the greenhouse gas emissions trading scheme established under this Act; and
- (b) the desirability of minimising any compliance and administrative costs associated with the greenhouse gas emissions trading scheme established under this Act; and
- (c) the relative costs of giving the exemption or not giving it, and who bears the costs; and
- (d) any alternatives that are available for achieving the objectives of the Minister in respect of giving the exemption; and
- (e) any other matters the Minister considers relevant.
(4) While an order made under this section is in force, any person or class of persons in respect of whom the order is made is not required to comply with the obligations imposed on participants under this Part and Part 5 in respect of the matters covered by the order.
(5) Before recommending the making or revocation of an order under this section, the Minister must—
- (a) consult with persons that the Minister considers are likely to be substantially affected by the making of the order; and
- (b) give those persons the opportunity to make submissions; and
- (c) consider those submissions.
(6) Despite anything in subsection (2) or (3), the Minister may make a recommendation for the making of an order under subsection (1) in respect of a person with whom the Crown has signed a negotiated greenhouse agreement if—
- (a) the negotiated greenhouse agreement was signed before 31 December 2005; and
- (b) the order relates to an activity of the person that is covered by the negotiated greenhouse agreement; and
- (c) the order is in force for a period not exceeding the term of the negotiated greenhouse agreement, including any extension of the term made in accordance with the agreement.
(7) The Minister is not required to comply with subsection (5) before recommending the making of an order under subsection (1) in respect of a person with whom the Crown has signed a negotiated greenhouse agreement.
(8) A failure to comply with subsection (5) does not affect the validity of any order made.
Section 60: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 60(1)(a): amended, on 8 December 2009, by section 27(1) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 60(1)(b): amended, on 8 December 2009, by section 27(2) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 60(1)(c): amended, on 8 December 2009, by section 27(3) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 60(1A): inserted, on 8 December 2009, by section 27(4) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).
Section 60(2)(b): amended, on 8 December 2009, by section 27(5) of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

61 Requirement to have holding account

(1) A participant or an eligible person must have a holding account for the purpose of—
- (a) surrendering units or repaying units as required under this Part or Part 5:
- (b) receiving New Zealand units to which the participant or eligible person is entitled under this Part or Part 5.
(2) Despite anything in subsection (1), a person who does not have a holding account at the time the person becomes a participant complies with subsection (1) if the person complies with section 56(1)(b) or 57(3), as the case may require.
(3) Despite anything in this Act, the Registrar must, subject to section 18A(5), open a holding account in the name of—
- (a) a person—
  - (i) who applies to open a holding account in accordance with section 56(1)(b) or 57(3); and
  - (ii) whose name has been entered on a register kept for the purposes of section 56 or 57; or
- (b) an eligible person.
Section 61: substituted, on 8 December 2009, by section 28 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

62 Monitoring of emissions and removals

A participant must, in respect of each activity listed in Schedule 3 or 4 that is carried out by the participant in a year,—
- (a) collect the prescribed data or other prescribed information (which data or information must, if required by regulations made under this Act, be verified by a person or organisation recognised by the EPA under section 92); and
- (b) calculate the emissions and the removals from the activity in accordance with the methodologies prescribed in regulations made under this Act; and
- (c) if required by regulations made under this Act, have the calculations verified by a person or organisation recognised by the EPA under section 92; and
- (d) keep, in the prescribed format (if any), records of the data or information and calculations.
Section 62: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 62(a): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 62(c): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).
Section 62(d): substituted, on 8 December 2009, by section 29 of the Climate Change Response (Moderated Emissions Trading) Amendment Act 2009 (2009 No 57).

63 Liability to surrender units to cover emissions

(1) A participant is liable to surrender 1 unit for each whole tonne of emissions from each activity listed in Schedule 3 or 4 that the participant carries out,—
- (a) as calculated in accordance with this Act; and
- (b) at the times required under this Act.
(2) If a participant is liable to surrender units under this Act, the participant must make an application under section 18C to transfer the required number of units from the participant’s holding account to a surrender account designated by the EPA.
Section 63: added, on 26 September 2008, by section 50 of the Climate Change Response (Emissions Trading) Amendment Act 2008 (2008 No 85).
Section 63(2): amended, on 5 December 2011, by section 19 of the Climate Change Response Amendment Act 2011 (2011 No 15).

New Zealand Legislation: Acts

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Climate Change Response Act 2002 No 40 (as at 05 December 2011), Public Act

Climate Change Response Act 2002

Note

Contents

1 Title

Part 1Preliminary provisions

2 Commencement

2A Application of Schedules 3 and 4

2B Orders in Council in relation to Part 5 of Schedule 3

2C Effect of Orders in Council in relation to Part 5 of Schedule 3

3 Purpose

3A Treaty of Waitangi (Te Tiriti o Waitangi)

4 Interpretation

5 Act binds the Crown

Part 2Institutional arrangements

Subpart 1—Powers of Minister of Finance

6 Minister of Finance may direct Registrar regarding establishment of Crown holding accounts and carry out trading activities with respect to units

7 Minister of Finance may give directions to Registrar regarding accounts and units

8 Registrar must give effect to directions of Minister of Finance

8A Minister of Finance must publish directions

9 Minister of Finance may obtain information from inventory agency and Registrar

Subpart 1A—Chief executive

9A Functions of chief executive

9B Delegation by chief executive

Subpart 2—Registry

Purpose of Registry

10 Purpose of Registry

Registrar

11 EPA to appoint Registrar

12 Registrar responsible for Registry

13 Registrar may refuse access to, or suspend operation of, Registry

14 Registrar must give effect to directions

15 Registrar to allocate unique numbers

16 Carry-over of certain Kyoto units

17 Commitment period reserve

17A Power of Registrar to delegate

Unit register

18 Form and content of unit register

18A Opening holding accounts

18B Closing holding accounts

18C Transfer of units

18CA Effect of surrender, retirement, cancellation, and conversion

18CB Restriction on surrender of assigned amount units

18CC Restriction on surrender of assigned amount units issued during first commitment period

18CD Effect of surrendering restricted assigned amount units

18D Succession

18E Trusts, representatives, and assignees of bankrupts

19 Retirement of Kyoto units by the Crown

20 Transactions must be registered

21 Registration procedure for Kyoto units

21AA Registration procedure for New Zealand units and approved overseas units

21A Electronic registration

21B Defective applications

22 Transactions take effect when registered

23 Receiving Kyoto units from overseas registries

23A Receiving New Zealand units and approved overseas units from overseas registries

24 Priority of registration

25 Correction of unit register

26 Unit register must be open for search

27 Information accessible by search

28 Search of unit register

29 Printed search result receivable as evidence

30 Recovery of fees

30A The Crown or Registrar not liable in relation to searches in certain cases

Expiry of long-term certified emission reduction units and temporary certified emission reduction units

30B Expiry of long-term certified emission reduction units

30C Replacement of certain long-term certified emission reduction units

30D Expiry of temporary certified emission reduction units

Miscellaneous provisions

30E Conversion of New Zealand units into designated assigned amount units for sale overseas or cancellation

30F Restrictions on certain New Zealand units allocated to landowners of pre-1990 forest land

30G Regulations relating to Part 2

30H Procedure for certain regulations relating to units

30I Incorporation by reference in regulations made under section 30G

30J Signing false declaration with respect to regulations made under section 30G

30K Providing false or misleading information to Registrar

Part 3Inventory agency

31 Meaning of greenhouse gas

Part 1
Preliminary provisions

Part 2
Institutional arrangements

Part 3
Inventory agency

Part 4
New Zealand greenhouse gas emissions trading scheme