288Periodic reviews of this Act and the associated provisions to be conducted by the Climate Change Authority

#### 288 Periodic reviews of this Act and the associated provisions to be conducted by the Climate Change Authority (1) Reviews of the following matters are to be conducted by the Climate Change Authority: (a) the effectiveness and efficiency of this Act and the associated provisions, including: (i) the effectiveness of reporting requirements imposed on liable entities; and (ii) the effectiveness of the coverage of emissions, and potential emissions, of greenhouse gases; and (iii) administrative costs incurred by liable entities in complying with this Act and the associated provisions; and (iv) administrative costs incurred by liable entities in surrendering units to avoid being liable to pay unit shortfall charge; (b) whether there should be any changes to Australia’s medium‑term and long‑term targets and carbon budget for reducing net greenhouse gas emissions; (c) the process that should apply to the setting of carbon pollution caps; (d) policies and procedures that should apply to the auctioning of carbon units; (e) the provisions that should apply in relation to the issue of carbon units for a fixed charge (to act as a cap); (h) the extent to which units other than carbon units should be able to be surrendered; (i) the extent to which a liable entity should be able to avoid liability for unit shortfall charge in relation to an eligible financial year by surrendering a carbon unit with a vintage year that is later than the eligible financial year; (j) the arrangements for the governance and administration of this Act and the associated provisions, including: (i) the functions and powers of the Clean Energy Regulator; and (ii) the Minister’s power to give directions to the Clean Energy Regulator; and (iii) the other powers of the Minister; (k) the relationship between: (i) this Act and the associated provisions; and (ii) the Carbon Credits (Carbon Farming Initiative) Act 2011; (l) such other matters (if any) that: (i) are specified in a written instrument given by the Minister to the Chair of the Climate Change Authority; and (ii) relate to this Act and the associated provisions. Timing of reviews (2) The first review must be completed before the end of 31 December 2016. (3) The second review must be completed before the end of 31 December 2018. (4) Each subsequent review must be completed within 5 years after the deadline for completion of the previous review. (5) For the purposes of subsections (2), (3) and (4), a review is completed when the report of the review is given to the Minister under section 292. Consultation (6) In conducting a review, the Climate Change Authority must make provision for public consultation. Instrument (7) An instrument given under paragraph (1)(l) is not a legislative instrument.