4Simplified outline

#### 4 Simplified outline The following is a simplified outline of this Act: • This Act sets up a scheme for the issue of Australian carbon credit units in relation to eligible offsets projects. • Australian carbon credit units and certain other types of units may be purchased by the Commonwealth. • An Australian carbon credit unit is personal property and is generally transferable. • The main eligibility requirements for eligible offsets projects are as follows: (a) the project must be carried out in Australia; (b) the project must be covered by a methodology determination made under this Act. • A methodology determination is made having regard to the offsets integrity standards set out in this Act. • This Act is administered by the Clean Energy Regulator.