49Transmission of Kyoto units by operation of law

49 Transmission of Kyoto units by operation of law

Evidence of transmission (1) For paragraph 47(2)(b) of the Act, the transferee must give the Regulator a certified copy of a document showing transmission of the title to the Kyoto units to the transferee.

Note: Example

Note: If a Kyoto unit has been transmitted on the making of an order by a court, including a sequestration order, the evidence of the transmission would be a certified copy of the order.

Declaration of transmission (2) For subsection 47(3) of the Act, a declaration of transmission must: (a) be made in writing; and (b) identify the serial numbers of the Kyoto units; and (c) set out the name, address (if relevant) and Registry account number of the transferor; and (d) set out the name, address and Registry account number (if any) of the transferee; and (e) include a brief description of the circumstances that resulted in the transmission; and (f) be signed by the transferee.

Note: If the transferee does not already have a Registry account, the transferee must request that one be opened in the transferee’s name—see subsection 47(4) of the Act.