24Meaning of transferring project area and related definitions

24  Meaning of transferring project area and related definitions

Note: This section sets out definitions for several terms that are relevant to:

  a project that was previously covered by a savanna emissions avoidance determination; or

  a project that contains a project area that was previously part of either:

  – a project covered by a savanna emissions avoidance determination; or

  – another project covered by this determination.

 Each such project contains at least one transferring project area. This Division makes special rules for transferring project areas.

 A project that contains a transferring project area might, depending on the circumstances, be a continuing transferring project or a restarting transferring project, or it might be neither. This Division makes special rules for continuing transferring projects and restarting transferring projects.

Meaning of transferring project area and former determination

 (1) A project area of a savanna sequestration project is a transferring project area if, immediately before it was a project area of a project covered by this determination, it was a project area of:

 (a) a project covered by a savanna emissions avoidance determination; or

 (b) a different project covered by this determination.

Note: Subsection (1) is modified in some cases if the requirement in lieu of the newness requirement set out in paragraph 21(2)(c) was met. See paragraph 21(3)(b).

 (2) The methodology determination that applied to the project to which the transferring project area most recently belonged is the former determination for the transferring project area.

Meaning of continuing transferring project and restarting transferring project

 (3) In this determination:

continuing transferring project: a savanna sequestration project is a continuing transferring project if:

 (a) when this determination first applied to the project, one of its project areas was a transferring project area; and

 (b) the former determination was a savanna emissions avoidance determination; and

 (c) the Regulator approved the application of this determination to the project under section 130 of the Act.

Note: A project cannot be a continuing transferring project until after the Carbon Credits (Carbon Farming Initiative) Amendment Act 2018 commences. See subsections 11(3) and (4).

restarting transferring project: a savanna sequestration project is a restarting transferring project if:

 (a) when the project was first declared eligible, one of its project areas was a transferring project area; and