30BLinked applications for removal of project area from a savanna emissions avoidance project and declaration of new savanna sequestration project

#### 30B Linked applications for removal of project area from a savanna emissions avoidance project and declaration of new savanna sequestration project Note: This provision is part of a mechanism that enables the project proponent of a savanna emissions avoidance project, in effect, to transfer a project area for the project to a determination that also provides credits for sequestration. The section 27 declaration for the original project is varied to remove the project area, and a new section 27 declaration is made for the project area under the sequestration determination. Application of this section (1) This section applies if the Regulator receives a request to act in accordance with this section, accompanied by: (a) an application in accordance with subsection (5) to vary the section 27 declaration in relation to a savanna emissions avoidance project (the original project) to remove one or more project areas from that project; and (b) an application under section 22 of the Act for a savanna sequestration project with one or more project areas that are identical to the project area or areas to be removed from the original project (the new project) assuming the project areas are varied in accordance with any request under subsection (2); and (c) a statement that the applicant wishes the declaration in relation to the original project to be varied if, and only if, the new project is to be declared an eligible offsets project; and (d) evidence that all persons who hold an eligible interest in the project area of the new project have consented to the making of the application under section 22 of the Act for that new project. (2) The application in accordance with subsection (5) to vary the section 27 declaration may include a request to subdivide project areas of the original project or remove part of a project area from the project if such a request is consistent with the applicable methodology determination for the original project. How the Regulator is to act (3) The Regulator must proceed sequentially as follows: (a) wait until a time when all the following conditions are fulfilled: (i) the project proponent has submitted an offsets report for the original project that covers the most recent full calendar year and the project areas proposed to be removed from the project; (ii) any certificates of entitlement arising from that report have been issued; (iii) the relevant Australian carbon credit units have been issued to the holder of the certificate of entitlement (if any); (iv) there is sufficient time remaining in the calendar year for the new project to be declared an eligible offsets project before 1 December of that year and the crediting period for the new project to begin; Note: If, by the time the carbon credits have been issued in relation to an offsets report, there is not sufficient time for the new project to be declared eligible before 1 December of a calendar year, the Regulator must wait until the calendar year has been completed and an offsets report in relation to it submitted before reconsidering whether the conditions are fulfilled. It is not possible for such new projects to defer the start of their crediting period past the calendar year in which they are declared. (b) decide whether the new project should be declared an eligible offsets project; (c) if the decision is to declare the new project an eligible offsets project: (i) vary the section 27 declaration for the original project in accordance with any requests under subsection (2) that are consistent with the applicable methodology determination for the original project; and (ii) vary the section 27 declaration for the original project to remove the project areas the subject of the application under subsection (5); and (iii) immediately afterwards, make the section 27 declaration for the new project. (4) If the Regulator: (a) for the purposes of paragraph (3)(b), decides that the new project should not be declared an eligible offsets project; or (b) cannot proceed sequentially under subsection (3) within 12 months; the application for variation of the project area in relation to the original project is taken to be withdrawn. Application to revoke declaration in relation to original project (5) The application to vary the declaration of the original project to remove one or more project areas must be in the approved form and must 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 original project; (c) a geospatial map of the amended project areas for the original project and project areas for the new project in accordance with the CFI Mapping Guidelines; (d) an explanation of how any requests under subsection (2) are consistent with the applicable methodology determination for the original project; (c) 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. When the revocation takes effect (6) A variation under subparagraph (3)(c)(i) or (ii) takes effect when it is made. Notification (7) If the Regulator makes such a variation, the Regulator must give a copy of the varied declaration to the applicant with the section 27 declaration in relation to the new project.