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New Zealand Legislation: Bills

Bills are proposed Acts

Hon Nick Smith

Climate Change Response (Moderated Emissions Trading) Amendment Bill

Government Bill

85—1

Contents

Explanatory note

3 Principal Act amended

Part 1
Amendments to Climate Change Response Act 2002

4 Application of Schedules 3 and 4

5 New sections 2B and 2C inserted

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

6 Interpretation

7 Minister of Finance may carry out trading activities with respect to units

8 New section 17A inserted

17A Power of Registrar to delegate

9 Closing holding accounts

10 Trusts, representatives, and assignees of bankrupts

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

13 Participants

14 Associated persons

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

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

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

18 Exemptions in respect of activities listed in Schedule 3

19 New section 61 substituted

61 Requirement to have holding accounts

20 Entitlement to receive New Zealand units for removal activities

21 Annual emissions returns

22 New subpart 2 of Part 4 substituted

Subpart 2—Issuance and allocation of New Zealand units

68 Interpretation

69 Issuance of New Zealand units

70 Notification of intention regarding New Zealand units

Allocation of New Zealand units in relation to pre-1990 forest land and fishing

71 Governor-General may issue allocation plans

72 Correction of allocation plans

73 Allocation in respect of pre-1990 forest land

74 Minister to appoint person to hold certain New Zealand units

75 Allocation to owners of fishing quota

76 Consultation on pre-1990 forest land allocation plan

77 Consultation on fishing allocation plan

78 Determinations made in accordance with allocation plan

79 New determination made in accordance with allocation plan

80 Effect of new determination

Allocation of New Zealand units in relation to industry and agriculture

81 Criteria for allocation of New Zealand units to industry

82 Provisional allocations for persons carrying out eligible industrial activities

83 Annual reconciliation mechanism

84 Annual allocation adjustment

85 Closing allocation adjustment

85A Allocations to new entrants commencing carrying out an eligible industrial activity

86 Allocation of New Zealand units in relation to agriculture

86A Applications for allocation of New Zealand units for industry and agriculture

86B Allocation of New Zealand units

86C Chief executive may require further information prior to allocating New Zealand units

86D Retention of records and materials in relation to allocation

86E Balance of units at end of true-up period or other balance date

23 Chief executive to publish certain information

24 Matters in relation to which chief executive may decline to make emissions rulings

25 Submission of final emissions returns

26 Power to extend date for emissions returns

27 Repayment of units by persons in case of error

28 Strict liability offences

29 Other offences

30 Evasion or similar offences

31 Formation of consolidated group

32 Changes to consolidated groups

33 Nominated entities

34 Effect of being member of consolidated group

35 Emissions returns by consolidated group in respect of activities in Part 1 of Schedule 4

36 Ceasing to be member of consolidated group

37 New sections 157 and 157A substituted

157 Joint activities

157A Changes to unincorporated bodies

38 New sections 160 to 161C substituted

160 Reviews of operation of emissions trading scheme

161 Appointment and conduct of review panel

161A Regulation-making powers in relation to allocation of New Zealand units

161B Power to require information for allocation to industry

161C Procedure for regulations relating to allocation to industry

39 Regulations relating to methodologies and verifiers

40 Regulations relating to fees and charges

41 Other regulations

42 When deforestation to be treated as occurring in respect of pre-1990 forest land

43 Applications for exemption for land holdings of less than 50 hectares of pre-1990 forest land

44 Exemptions for deforestation of land with tree weeds

45 Conditions on registration as participant in respect of certain activities relating to post-1989 forest land

46 Registration as participant in respect of post-1989 forest land

47 Emissions returns for post-1989 forest land activities

48 New sections 190 to 193 substituted

190 Special rules regarding surrender of units in relation to post-1989 forest land

191 Ceasing to be registered as participant in respect of post-1989 forest land

192 Effect of transmission of interest in post-1989 forest land

193 Emissions returns in relation to transmitted interests

49 Information about status of forest land

50 Section 196A repealed

51 New section 201 substituted

201 Effect of registration by purchasers of jet fuel

52 Participant with respect to mining coal or natural gas

53 Mining natural gas in exclusive economic zone and continental shelf

54 New section 208 substituted

208 Purchase of coal or natural gas from wholly owned subsidiary of Part 3 of Schedule 3 participant

55 Effect of registration by purchasers of coal or natural gas

56 Subpart 4 of Part 5 substituted

Subpart 4—Agriculture

213 Participant in respect of subpart 4 of Part 5 of Schedule 3

214 Certain participants not required to surrender units in respect of synthetic fertiliser containing nitrogen in certain circumstances

57 Transitional provision for penalties

58 Transitional provision for voluntary reporting

59 Transitional provision for mandatory reporting by certain participants

60 New section 220 substituted

220 Transitional provision relating to unit entitlements for subpart 1 or 3 of Part 2 of Schedule 4 participants

61 New sections 222A to 222G inserted

222A Transitional provision for liability to surrender units to cover emissions

222B Transitional provision for entitlement to receive New Zealand units for removal activities

222C Transitional provisions for liability to surrender units to cover emissions

222D Issuance of New Zealand units to meet person’s obligation

222E Transitional provisions regarding liability to surrender units to cover emissions

222F Transitional provisions for allocation to industry

222G Transitional provisions regarding prohibition on ability to export New Zealand units

62 Section 223 repealed

63 New section 225 inserted

225 Regulations relating to targets

64 Schedule 3 amended

65 Schedule 4 amended

Part 2
Consequential amendments

66 Amendment to Climate Change (Unit Register) Regulations 2008

6 Holding accounts may be held jointly

The Parliament of New Zealand enacts as follows: