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Carbon Credits (Carbon Farming Initiative) Act 2011
20BCarbon abatement contracts
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#### 20B Carbon abatement contracts
(1) The functions of the Regulator include entering into contracts, on behalf of the Commonwealth, for the purchase by the Commonwealth of eligible carbon credit units.
(2) It is immaterial whether the units are in existence when the contract is entered into.
(3) For the purposes of this Act, a contract entered into under subsection (1) is to be known as a carbon abatement contract.
(4) For the purposes of this Act, if the Regulator enters into a carbon abatement contract with a person, the person is a carbon abatement contractor.