54Adjusting reporting period—transferee offsets project

#### 54 Adjusting reporting period—transferee offsets project (1) The reporting period during which an eligible offsets project becomes a transferee offsets project must not extend beyond the following times, whichever occurs first: (a) 5 years after the start time of the reporting period for the transferee offsets project; (b) 5 years after the start time of the reporting period for the transferor offsets project. (2) In this section: start time, in relation to the relevant reporting period for a transferor offsets project or a transferee offsets project, means: (a) the time at which the first crediting period for the project started; or (b) if at least one offsets report for the project has been given to the Regulator under section 76 of the Act—the time immediately after the end of the previous reporting period for the project.