In section 2A(1)(a)(ii), after “Schedule 3”, insert “(for fertiliser–farmer activities or animals–farmer activities)”.

In section 2A(1)(b), replace “221” with “219”.

In section 2A(3), delete “Subpart 1 of”.

In section 2A(4), before “Part 3”, insert “Subpart 1 of”.

Replace section 2A(5) and (6) with:

Replace section 2A(8) and (9) with:

Replace sections 2B and 2C with:

In section 3(1)(a), replace “and the Protocol” with “, the Protocol, and the Paris Agreement”.

In section 3(1)(a)(i), after “period”, insert “starting on 1 January 2008 and ending on 31 December 2012”.

In section 3(1)(a)(ii), replace “Article 7 of the Protocol and Article 12 of the Convention” with “Article 12 of the Convention, Article 7 of the Protocol, and Article 13.7 of the Paris Agreement”.

In section 3(1)(b)(i), replace “and the Protocol” with “, the Protocol, and the Paris Agreement”.

Replace section 3(1)(b)(ii) with:

In section 3(1)(c)(i), replace “and the Protocol” with “, the Protocol, and the Paris Agreement”.

Replace section 3(1)(c)(ii) with:

Repeal section 3(3).

Repeal section 3A(a).

Replace section 3A(b) and (c) with:

Repeal section 3A(e) to (j).

After section 3A, insert:

In section 4(1), repeal the definitions of allocation plan, approved overseas unit, assigned amount unit, Australian eligible industrial activity, carbon dioxide equivalent, carry-over, CDM registry, certified emission reduction unit, clean development mechanism project, commitment period reserve, conversion account, convert, designated operational entity, elect, eligible land, emission reduction unit, emissions budget period, emissions return, executive board, expire or expiry, first commitment period, fishing allocation plan, greenhouse gas, initial assigned amount, international transaction log, joint implementation project, Kyoto units, long-term certified emission reduction replacement account, long-term certified emission reduction unit, New Zealand Greenhouse Gas Inventory, non-compliance cancellation account, overseas registry, Paris Agreement, Party, post-1989 forest land, pre-1990 forest land allocation plan, previous commitment period, relevant commitment period, removal unit, retire, retirement account, sink cancellation account, subsequent commitment period, supervisory committee, temporary certified emission reduction replacement account, temporary certified emission reduction unit, and unit.

In section 4(1), insert in their appropriate alphabetical order:

In section 4(1), definition of account number, replace “section 15(1)(a)” with “section 15(1)”.

In section 4(1), definition of eligible person, replace paragraph (d) with:

In section 4(1), definition of exempt land, replace paragraph (a)(i) with:

In section 4(1), definition of general cancellation account, delete “other than sink activities being a source of emissions or a determination that New Zealand is not in compliance with Article 3.1 of the Protocol”.

In section 4(1), definition of holding account, delete “that have not been retired, surrendered, converted, or cancelled”.

In section 4(1), definition of surrender, replace “section 18CA(3) or (4)” with “section 18CA(2)”.

In section 4(2), replace “or Protocol” with “, the Protocol, or the Paris Agreement” in each place.

In section 4(6), replace “sections 62, 65, 66, 67, 118, 187, 189, 191, 192, and 193, activity or activities, in relation to a participant who submits an emissions return that shows nil liability,” with “a provision of this Act that relates to a participant who submits an emissions return that shows nil liability, activity or activities”.

After section 4, insert:

Replace section 5D(1)(c) with:

After section 5J(f), insert:

After section 5J(h), insert:

Replace section 5N(2)(a) with:

Replace section 5ZA(4)(a) with:

Replace section 5ZG(2) with:

Replace section 5ZH(2) with:

Replace section 5ZI(2) with:

Repeal section 5ZI(4).

In section 5ZL(1), replace “in the next emissions budget” with “for that”.

Replace section 5ZL(1)(c) with:

After section 5ZO, insert:

In section 6(b), after “overseas registry”, insert “or international transaction body”.

In section 6(d), delete “, with any person (including any other Party)”.

In section 6A, replace “section 30G(1)(p)” with “section 30GA”.

In section 6A(a), after “prescribed”, insert “individual limit and”.

After section 6A(b), insert:

Repeal section 7(1)(a)(i), (ii), (iv), (v), (vi), and (viii).

Replace section 7(1)(b) to (e) with:

Replace section 7(2)(b)(i) with:

Repeal section 7(3).

In section 9(b)(ii), replace “retired, replaced, cancelled, and carried-over” with “replaced, and cancelled”.

Replace section 10 with:

In section 13(d), replace “New Zealand’s international obligations” with “international climate change obligations”.

In section 14, replace “a provision in Part 4 or 5 of this Act or” with “any of the ETS participant provisions or by”.

Replace section 14 with:

Replace section 15(1) with:

Repeal section 15(2).

Repeal sections 16 and 17.

Replace section 18(2)(b) with:

In section 18(3)(a), replace “retirement, replacement, surrender, carry-over,” with “replacement, surrender,”.

In section 18(3)(b)(ii), after “registries”, insert “or international transaction bodies”.

Repeal section 18B(2)(b)(ii)(A).

In section 18C(1)(b), after “registry”, insert “or international transaction body”.

Repeal section 18C(3).

Replace section 18CA with:

Repeal sections 18CB, 18CC, and 18CD.

Replace section 18D(2)(b) with:

Replace section 18D(3) with:

Repeal section 19.

In section 20(1), delete “retire,”.

In section 20(2)(a), replace “the international transaction log” with “an international transaction body”.

Repeal section 21.

In section 21AA(1), replace “a Minister authorised to give the direction under a provision of this Act or the EPA” with “the EPA or a Minister authorised to give the direction under this Act”.

Replace section 21AA(1)(b) with:

In section 21AA(1)(c), after “registry”, insert “or international transaction body”.

In section 21AA(1)(c)(ii)(A), replace “the Minister or the EPA” with “the EPA or the Minister”.

In section 21AA(2), after “an overseas registry”, insert “or international transaction body”.

In section 21AA(2), replace “the overseas registry” with “it”.

In section 21AA(2)(b), after “registry”, insert “or international transaction body”.

In section 21AA(2)(c)(i), replace “the Minister or the EPA who gave the direction” with “the EPA or the Minister who gave the direction”.

In section 21AA(3), after “from the overseas registry”, insert “or international transaction body”.

In section 21AA(3)(c), after “registry”, insert “or international transaction body”.

In section 21A, delete “a provision of”.

Replace section 21B(1) with:

Repeal section 23.

In the heading to section 23A, after “registries”, insert “or international transaction bodies”.

In section 23A(1), (2), and (3), after “overseas registry”, insert “or international transaction body” in each place.

In section 24(1), delete “a provision of”.

In section 25(1)(a), replace “the Minister or the EPA who gave the direction” with “the EPA or the Minister who gave the direction”.

Replace section 25(3)(c)(ii) with:

Replace section 27(1)(c) with:

Repeal section 27(2)(a) and (b).

Replace section 27(2)(h) and (i) with:

In section 27(2)(j), replace “to the Registry from overseas registries” with “into the Registry”.

In section 27(2)(j)(iii), replace “overseas registries” with “registry or body”.

In section 27(2)(j)(iii)(A) and (B), replace “overseas registry” with “registry or body”.

In section 27(2)(k), replace “from the Registry to overseas registries” with “out of the Registry”.

In section 27(2)(k)(iii), replace “overseas registries” with “registry or body”.

In section 27(2)(k)(iii)(A) and (B), replace “overseas registry” with “registry or body”.

Replace section 27(2)(n), (o), and (p) with: