Charles Chauvel, in Committee, to move the following amendments:
Clause 22: New Section 82:
Subclause (1): To omit the formula “PA = LA × AB × OSY”
(line 17 on page 32) and substitute the following:
To insert, after the definition of “OSY”
(after line 8 on page 33) the following:
“EB | is the total emissions produced by eligible industrial activities in the baseline year of 2005. |
“ESY | is the total emissions produced by eligible industrial activities in the year immediately proceeding the specified year, as determined in accordance with regulations made under this Act.” |
Clause 22: New Section 84:
Subclause (1): To omit the formula “FA = LA × AB × OSY”
(line 28 on page 33) and substitute the following:
To insert, after the definition of “OSY”
(after line 6 on page 34) the following:
“EB | is the total emissions produced by eligible industrial activities in the baseline year of 2005. |
“ESY | is the total emissions produced by eligible industrial activities in the year immediately proceeding the specified year, as determined in accordance with regulations made under this Act.” |
Clause 22: New Section 85A:
Subclause (1): To omit the formula “FA = LA × AB × OSY”
(line 18 on page 37) and substitute the following:
To insert, after the definition of “OSY”
(after line 7 on page 38) the following:
“EB | is the total emissions produced by eligible industrial activities in the baseline year of 2005. |
“ESY | is the total emissions produced by eligible industrial activities in the year immediately proceeding the specified year, as determined in accordance with regulations made under this Act.” |
Clause 22: New Section 86:
Subclause (1): To omit the formula “A = LA × AB × OSY”
(line 16 on page 38) and substitute the following:
To insert, after the definition of “OSY”
(after line 30 on page 38) the following:
“EB | is the total emissions produced by eligible agricultural activities in the baseline year of 2005. |
“ESY | is the total emissions produced by eligible agricultural activities in the year immediately proceeding the specified year, as determined in accordance with regulations made under this Act.” |
Explanatory note
This Supplementary Order Paper amends the Climate Change Response (Moderated Emissions Trading) Amendment Bill. These amendments are as follows:
Clause 22: New Section 82: alters the formula for the determination of allocations to industrial emitters to impose a cap based on 2005 emissions. Applicants will receive a share of the cap based on their share of eligible industrial emissions in the specified year.
Clause 22: New Section 84: applies the above to the calculation of final allocations.
Clause 22: New Section 85A: applies the above to new industrial emitters.
Clause 22: New Section 86: alters the formula for the determination of allocations to agricultural emitters to impose a cap based on 2005 emissions. Applicants will receive a share of the cap based on their share of eligible agricultural emissions in the specified year.