218Notification of significant holding of carbon units—controlling corporation of a group

#### 218 Notification of significant holding of carbon units—controlling corporation of a group Scope (1) This section applies to a controlling corporation if any of the following events occurs: (a) the controlling corporation’s group begins to have a significant holding of carbon units with a particular vintage year; (b) the controlling corporation’s group ceases to have a significant holding of carbon units with a particular vintage year; (c) there is a change in the significant holding percentage for the controlling corporation’s group in relation to carbon units with a particular vintage year. > Note 1: For significant holding, see subsection (7). > Note 2: For significant holding percentage, see subsection (8). Notice (2) The controlling corporation must, within 5 business days after becoming aware of the event, give the Regulator a written notice: (a) informing the Regulator of the event; and (b) setting out the additional information mentioned in subsection (3). (3) The additional information to be set out in the notice is as follows: (a) the name and address of the controlling corporation; (b) for each member of the controlling corporation’s group that, immediately after the event, holds one or more carbon units with the vintage year: (i) the name and address of the member; and (ii) details of the member’s holding of those carbon units; (c) such other information (if any) as is specified in the regulations. Ancillary contraventions (4) A person must not: (a) aid, abet, counsel or procure a contravention of subsection (2); or (b) induce, whether by threats or promises or otherwise, a contravention of subsection (2); or (c) be in any way, directly or indirectly, knowingly concerned in, or party to, a contravention of subsection (2); or (d) conspire with others to effect a contravention of subsection (2). Civil penalty provisions (5) Subsections (2) and (4) are civil penalty provisions. > Note: Part 17 provides for pecuniary penalties for breaches of civil penalty provisions. Regulator to publish certain information (6) If the Regulator receives a notice under subsection (2) in relation to: (a) the controlling corporation; and (b) carbon units with a particular vintage year; the Regulator must publish on its website: (c) the name and address of the controlling corporation; and (d) if the controlling corporation’s group has a significant holding percentage in relation to those units—the significant holding percentage; and (e) if the controlling corporation’s group does not have a significant holding of those units—a statement to that effect. Significant holding (7) For the purposes of this section, the controlling corporation’s group has a significant holding of carbon units with a particular vintage year if the percentage worked out using the following formula is 10% or more:  Significant holding percentage (8) If the controlling corporation’s group has a significant holding of carbon units with a particular vintage year, then, for the purposes of this section, the significant holding percentage for the controlling corporation’s group in relation to those units is: (a) the percentage worked out using the formula in subsection (7) in relation to those units; or (b) if the percentage worked out using the formula in subsection (7) in relation to those units is not a whole percentage—the percentage rounded down to the nearest whole percentage. Exception (9) Paragraphs (1)(a) and (b) do not apply to a carbon unit with a vintage year that is a fixed charge year.