139Unilateral revocation of declaration of eligible offsets project—failure of multiple project proponents to nominate a nominee

#### 139 Unilateral revocation of declaration of eligible offsets project—failure of multiple project proponents to nominate a nominee (1) The regulations or the legislative rules may make provision for and in relation to empowering the Regulator to revoke a declaration under section 27 in relation to an offsets project. (2) Regulations or legislative rules made for the purposes of subsection (1) must not empower the Regulator to revoke a declaration unless: (a) there are 2 or more project proponents (the multiple project proponents) for the offsets project; and (b) a declaration is in force under section 27 in relation to the project; and (c) the multiple project proponents have nominated a person under subsection 136(2); and (d) the nomination ceases to be in force; and (e) 90 days pass, and no new nomination under subsection 136(2) is made by the multiple project proponents. (3) Regulations or legislative rules made for the purposes of subsection (1) must require the Regulator to consult the multiple project proponents before deciding to revoke a declaration.