20CWhen carbon abatement contracts may be entered into

#### 20C When carbon abatement contracts may be entered into (1) The Regulator may enter into a carbon abatement contract under section 20B as the result of a carbon abatement purchasing process conducted by the Regulator under section 20G. (2) The Regulator must not enter into a carbon abatement contract under section 20B unless the carbon abatement contractor for the contract is a project proponent for an eligible offsets project. > Note: For declarations of eligible offsets projects, see section 27\. The requirements for such a declaration include that the project proponent for the project passes the fit and proper person test. (3) The Regulator must not enter into a carbon abatement contract under section 20B (otherwise than by way of novation) if any of the eligible carbon credit units to be purchased under the contract: (a) were issued; or (b) at the time of purchase, would have been issued; in respect of an eligible offsets project of a kind specified in the legislative rules.