Hon Nick Smith
Government Bill
85—1
Explanatory note
1 Title
2 Commencement
3 Principal Act amended
Part 1Amendments 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
12 Regulations
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 2Consequential 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: