New Zealand Legislation: Supplementary Order Papers
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Clause 43: new section 168
Subsection (1): to omit “registered as a participant in relation to”
(lines 23 and 24 on page 191) and substitute “a participant in respect of”
.
Subsection (1): to omit “4,”
(line 25 on page 191) and substitute “4”
.
Subsection (1): to omit “that land”
(line 27 on page 191) and substitute “that land,”
.
Subsection (1): to insert after “surrendered”
(line 28 on page 191) “for emissions from the land, calculated in accordance with subsection (2)”
.
Subsections (2), (2A), (2B), (3), and (4): to omit these subsections (line 29 on page 191 to line 27 on page 193) and substitute the following subsections:
“(2) To determine the maximum number of units required to be surrendered in respect of a carbon accounting area in respect of any emissions return (or, where relevant, in respect of an emissions return under section 168A or 169, in respect of part of a carbon accounting area), a person must—
“(a) determine the net number of New Zealand units transferred for removals from the carbon accounting area in respect of any emissions returns submitted since a participant was recorded as carrying out an activity listed in Part 1 of Schedule 4 in respect of the land (that is, the number of units transferred for removals less any units repaid under section 111(6) or 167(4)); and
“(b) determine the net number of units surrendered in respect of emissions from the carbon accounting area in respect of any emissions returns submitted since a participant was recorded as carrying out an activity listed in Part 1 of Schedule 4 in respect of the land (that is, the number of units surrendered, less any units reimbursed under section 112 or 167(3B)); and
“(c) if the area is—
“(i) a whole carbon accounting area, subtract the number of units referred to in paragraph (b) from the number of units referred to in paragraph (a); or
“(ii) part of a carbon accounting area,—
“(A) take the number of units determined by subtracting the number of units referred to in paragraph (b) from the number of units referred to in paragraph (a); and
“(B) divide that number by the number of hectares in the carbon accounting area; and
“(C) multiply that number by the number of hectares in the part of the carbon accounting area in respect of which the return is submitted.
“(3) For the purposes of this section,—
“(a) any units issued in respect of the post-1989 forest land while it was the subject of a forest sink covenant under the Forests Act 1949 must be treated as New Zealand units transferred under this Act in respect of removals from the post-1989 forest land; and
“(b) units transferred for removals, surrendered, repaid, or reimbursed in respect of a carbon accounting area include units that a person would have been entitled to receive, or would have been required to surrender or repay, in respect of a carbon accounting area but which were not actually transferred, surrendered, repaid, or reimbursed because of an election under section 167(4).