54Kyoto units for which carry‑over is not permitted

54 Kyoto units for which carry‑over is not permitted

(1) For paragraph 40(2)(a) of the Act, carry‑over to the second commitment period is not permitted for the following Kyoto units: (a) units held in Registry accounts other than the Commonwealth holding account; (b) removal units; (c) temporary certified emission reductions; (d) long‑term certified emission reductions; (e) emission reduction units that have been converted from removal units. (2) For paragraph 40(2)(b) of the Act, the Regulator must, as soon as practicable after the end of the additional period for fulfilling commitments for the first commitment period, transfer to the mandatory cancellation account for the first commitment period any Kyoto units that: (a) are held in a Registry account, other than a Registry account referred to in regulation 24 or a Registry account opened in accordance with regulation 25; and (b) are Kyoto units for which carry‑over to the second commitment period is not permitted under subregulation (1).