71Crediting period—transitional rule for avoided deforestation projects

71 Crediting period—transitional rule for avoided deforestation projects

Scope (1) This section applies to an eligible offsets project if: (a) either: (i) the project was an eligible offsets project immediately before the commencement of this Part; or (ii) the project became an eligible offsets project after the commencement of this Part as the result of an ERF transitional application (within the meaning of Division 2 of Part 2 of Schedule 1 to the Carbon Farming Initiative Amendment Act 2014); and (b) the project is covered by the Carbon Credits (Carbon Farming Initiative) (Avoided Deforestation) Methodology Determination 2013. Crediting period (2) Despite any other provision of this Part, the crediting period for the project is: (a) the first crediting period for the project worked out under section 69 as it stood immediately before the commencement of this Part; or (b) if another period is specified in the applicable methodology determination for the project—that other period that began when the declaration of the project under section 27 took effect. No subsequent crediting periods (3) The project cannot have more than one crediting period.