This note is not part of the regulations, but is intended to indicate their general effect.
These regulations amend the Climate Change (Liquid Fossil Fuels) Regulations 2008 to allow opt-in participants to deduct from their emissions calculations emissions related to liquid fossil fuels that are exported from New Zealand. As these deductions can currently be made by obligation participants, the effect of the amendments is to address the inconsistency of treatment between opt-in participants and obligation participants.
These regulations come into force on 29 December 2015, because section 166(3) of the Climate Change Response Act 2002 (the Act) provides that regulations made under section 163 of the Act may not come into force earlier than 3 months after the date of their notification in the Gazette. However, these regulations apply for the year commencing 1 January 2015 and for each subsequent year, as permitted by section 163(3) of the Act, which allows the regulations to apply from the commencement of the year in which they were made.
Date of notification in Gazette: 24 September 2015.
These regulations are administered by the Ministry for the Environment.