296Transitional—carbon units issued before the designated carbon unit day

#### 296 Transitional—carbon units issued before the designated carbon unit day Despite the amendments of this Act made by Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made. Clean Energy Regulator Act 2011 95 Section 3 Omit: • The Regulator has such functions as are conferred on it by or under: (a) the Clean Energy Act 2011; and (b) the Carbon Credits (Carbon Farming Initiative) Act 2011; and (c) the National Greenhouse and Energy Reporting Act 2007; and (d) the Renewable Energy (Electricity) Act 2000; and (e) the Australian National Registry of Emissions Units Act 2011. substitute: • The Regulator has such functions as are conferred on it by or under: (a) the Carbon Credits (Carbon Farming Initiative) Act 2011; and (b) the National Greenhouse and Energy Reporting Act 2007; and (c) the Renewable Energy (Electricity) Act 2000; and (d) the Australian National Registry of Emissions Units Act 2011. 96 Section 4 Insert: > Climate Change Convention means the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as amended and in force for Australia from time to time. > Note: The text of the Convention is set out in Australian Treaty Series 1994 No. 2 (\[1994\] ATS 2). In 2013, the text of a Convention in the Australian Treaty Series was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au). 97 Section 4 (paragraphs (b) to (h) of the definition of climate change law) Repeal the paragraphs. 98 Section 4 Insert: > greenhouse gas has the same meaning as in the National Greenhouse and Energy Reporting Act 2007. 99 Section 4 (definition of international agreement) Repeal the definition, substitute: > international agreement means an agreement whose parties are: (a) Australia and a foreign country; or (b) Australia and 2 or more foreign countries. 100 Section 4 (definition of international climate change agreement) Repeal the definition, substitute: > international climate change agreement means: (a) the Climate Change Convention; or (b) any other international agreement, signed on behalf of Australia, that: (i) relates to climate change; and (ii) imposes obligations on Australia to take action to reduce greenhouse gas emissions; or (c) an international agreement, signed on behalf of Australia, that: (i) relates to climate change; and (ii) is specified in a legislative instrument made by the Minister for the purposes of this definition. 101 Section 4 (paragraph (a) of the definition of objectives of the Regulator) Repeal the paragraph. 102 Section 4 (definition of prescribed international unit) Repeal the definition. 103 Paragraph 41(3)(a) Repeal the paragraph. 104 Paragraph 49(1)(z) Repeal the paragraph, substitute: (z) a person or body responsible for the administration of a scheme that involves the issue or registration of prescribed eligible carbon units; Corporations Act 2001 105 Section 9 (definition of carbon unit) Repeal the definition. 106 Paragraph 764A(1)(kaa) Repeal the paragraph. 107 At the end Chapter 10 Add: