29Voluntary revocation of declaration of eligible offsets project—units issued

#### 29 Voluntary revocation of declaration of eligible offsets project—units issued When Regulator must revoke declaration (1) On receiving an application under subsection (2), the Regulator must revoke a declaration made under section 27 of the Act in relation to an offsets project to which one or more Australian carbon credit units have been issued in relation to the project if: (a) the Regulator is satisfied that Australian carbon credit units have been issued in relation to the project in accordance with Part 2 of the Act; and (b) if the project is a sequestration offsets project—the Regulator is satisfied that: (i) the applicant has, before making the application, voluntarily relinquished Australian carbon credit units equal to the net total number of Australian carbon credit units issued in relation to the project in accordance with Part 2 of the Act; and (ii) if the Australian carbon credit units voluntarily relinquished by the applicant included non‑Kyoto Australian carbon units—the number of non‑Kyoto Australian carbon credit units relinquished does not exceed the number of non‑Kyoto Australian carbon credit units issued in relation to the project in accordance with Part 2 of the Act; and (c) before the Regulator revokes the declaration, the applicant is not removed from being identified on the declaration as the project proponent for the project under section 24. Application to revoke declaration (2) The application must be made by the project proponent for the project and must be in the approved form and be accompanied by the following information or documents: (a) the name and contact details of the applicant and whether the applicant is: (i) the project proponent; or (ii) the nominee of multiple project proponents; (b) the unique project identifier for the project; (c) evidence that the project has been issued with one or more certificates of entitlement; (d) details of the type and number of Australian carbon credit units issued for the project; (e) if the project is a sequestration offsets project—evidence of the relevant matters mentioned in subparagraph (1)(b)(i) and (ii); (ea) an explanation of whether any other person is likely to consider themselves eligible to be the project proponent for the project and the contact details of any such persons; (f) a signed declaration by the applicant that the information included in, and the information and any documents accompanying the application: (i) meets the requirements in this subsection; and (ii) is accurate. (2A) If the Regulator considers that the landholder or another person may want to be considered a project proponent for the project, the Regulator must take reasonable steps to inform that person of the application. Timing (3) The Regulator must take all reasonable steps to ensure that a decision is made on the application: (a) if the Regulator requested the applicant to give further information under section 31 in relation to the application—within 90 days after the applicant gave the Regulator the information; or (b) otherwise—within 90 days after the application was made. (3A) However, the Regulator may delay making a decision on the application if another person has made, or is considering making, an application under section 24. Notification (4) If the Regulator revokes the declaration, the Regulator must, as soon as practicable after revoking the declaration, give a copy of the revocation to: (a) the applicant; and (b) if the revoked declaration related to a sequestration offsets project—the relevant land registration official for the project. Refusal (5) If the Regulator refuses to revoke the declaration, the Regulator must give the applicant written notice of the decision and the reasons for the decision.