Climate Change Response (Emissions Trading) Amendment Act 2008

Reprint as at 1 January 2013

Climate Change Response (Emissions Trading) Amendment Act 2008

Public Act2008 No 85
Date of assent25 September 2008
Commencementsee section 2

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This Act is administered by the Ministry for the Environment.


Contents

1 Title

2 Commencement

3 Principal Act amended

4 New section 2A inserted

5 Purpose

6 Interpretation

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

8 Registrar must give effect to directions of Minister of Finance

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

10 Purpose of Registry

11 Appointment of Registrar

12 Section 14 repealed

13 Registrar must allocate unique numbers

14 Carry-over of units

15 Commitment period reserve

16 Form and content of unit register

17 Opening holding accounts

18 Closing holding accounts

19 Transfer of units

20 New sections 18CA, 18CB, 18CC, and 18CD inserted

21 New section 19 substituted

22 Transactions must be registered

23 Registration procedure

24 New section 21AA inserted

25 Defective applications

26 Receiving units from overseas registries

27 New section 23A inserted

28 Priority of registration

29 Correction of unit register

30 Unit register must be open for search

31 New section 27 substituted

32 Recovery of fees

33 Crown or Registrar not liable in relation to searches in certain cases

34 New heading and sections 30E to 30K inserted

35 New Part 3 heading substituted

36 Primary functions of inventory agency

37 Inventory agency under direction of Minister responsible for inventory agency

38 New heading substituted

39 Authorisation of inspectors

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

41 Limitation on power of entry under section 37

42 New section 45A inserted

43 Obstructing, hindering, resisting, or deceiving person exercising power under Act

44 Signing false declaration

45 Section 48A repealed

46 Reporting

47 Regulations

48 New section 51 substituted

49 Inventory agency must report to Minister responsible for inventory agency on certain matters before certain regulations are made

50 New Parts 4 and 5 inserted

General administrative provisions

Verification and inquiry

Emissions rulings

Emissions returns

General

Pre-1990 forest land

Post-1989 forest land

Post-1989 forest land and pre-1990 forest land

Transitional provisions

51 Regulations upon which consultation has been undertaken before commencement of this section

52 New Schedules 3 and 4 added

53 Process to apply before offsetting provisions may be commenced [Repealed]

Consequential amendments

54 Amendments to Forests Act 1949

55 Amendments to Forestry Rights Registration Act 1983

56 Amendments to Summary Proceedings Act 1957

57 Amendments to Income Tax Act 2004

58 New heading and section CB 29 inserted

59 New section CW 3B inserted

60 New section CX 44F inserted

61 New heading and sections DB 46 and DB 47 inserted

62 Meaning of trading stock

63 Valuation of excepted financial arrangements

64 What is an excepted financial arrangement?

65 New section GD 16 inserted

66 Definitions

67 Amendments to Income Tax Act 2007

68 New heading and section CB 36 inserted

69 New section CW 3B inserted

70 New section CX 48B inserted

71 New heading and sections DB 60 and DB 61 inserted

72 Meaning of trading stock

73 Valuation of excepted financial arrangements

74 What is an excepted financial arrangement?

75 New section GC 4B inserted

76 Definitions

77 Goods and Services Tax Act 1985

78 Interpretation

79 Zero-rating of goods

80 Zero-rating of services

81 Amendments to Personal Property Securities Act 1999

Schedule
New Schedules 3 and 4 added

Reprint notes


The Parliament of New Zealand enacts as follows: