New Zealand Legislation: Bills

8 Purpose of Registry

• (1) Section 10 is amended by inserting “in relation to Kyoto units” after “purpose of the Registry”.

  (1A) Section 10(a) is amended by inserting “, transparent, and efficient” after “accurate”.

  (2) Section 10(a)(i) is amended by inserting “surrender,” after “retirement,”.

  (3) Section 10(a)(i) is amended by inserting “Kyoto” after “cancellation of”.

  (4) Section 10(b)(ii) is amended by omitting “independent” and substituting “international”.

  (5) Section 10(b)(ii) is amended by omitting “; and” and substituting “.”.

  (6) Section 10(c) is repealed.

  (7) Section 10 is amended by adding the following subsections as subsections (2) and (3):

  • “(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 the—

      • “(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 carry out their functions and duties, and exercise their powers.”