80ARegulator may declare offsets reporting requirements does not apply to project

#### 80A Regulator may declare offsets reporting requirements does not apply to project When Regulator may make declaration (1) For the purposes of subsection 77(1) of the Act, the Regulator may declare, in writing, that subsection 76(2) of the Act does not apply to an eligible offsets project if: (a) the Regulator receives an application under subsection (2); and (b) the project is a sequestration offsets project; and (c) the Regulator is satisfied that the project has reached its maximum carbon sequestration capacity; and (d) if the project is a savanna sequestration project or soil carbon project—the permanence obligation period for the project has ended. Application (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) an explanation of how the project has reached its maximum carbon sequestration capacity; (d) an explanation of how any risks of reversal of sequestration during the remainder of the permanence period are to be managed; (e) 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. 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 80B 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. Notification (4) If the Regulator makes the declaration, the Regulator must, as soon as practicable after making the declaration, give a copy of the declaration to the applicant. Refusal (5) If the Regulator refuses to make the declaration, the Regulator must give the applicant written notice of the decision and the reasons for the decision.