98DGiving effect to object of safeguard through schemes

98D Giving effect to object of safeguard through schemes

98D Giving effect to object of safeguard through schemes

(1) The object of the safeguard may be given effect to by the establishment, by a regulation that amends Schedule 4A (other than Part 1 of Schedule 4A), of a scheme whose object is to encourage a specified energy activity (the scheme object).

(2) A scheme so established may deal with the following matters—

(a) the persons who may or are required to participate in the scheme (scheme participants) and the classes of scheme participants,

(b) the scheme’s annual target or targets in respect of or related to energy activities for each class of scheme participant (the scheme target or scheme targets),

(c) annual individual targets (individual targets), which may involve contingencies,

(d) the requirement for scheme participants to meet individual targets,

(e) the penalty payable per certificate which is not surrendered as required to satisfy an individual target,

(f) the carrying forward, to a later year, of an individual target shortfall,

(g) exemptions from the scheme, and the effect of those exemptions,

(h) the lodging, by a scheme participant, of an annual statement regarding the scheme participant’s individual target and the estimated penalty payable in respect of an individual target shortfall,

(i) the assessment of a scheme participant’s liability for the payment of penalties under the scheme,

(j) certificates in respect of energy activities, including the circumstances in which, and terms upon which, certificates may be or are created, allocated, traded, transferred, sold, forfeited, or surrendered (including the specific energy activities in respect of which those certificates may be created, and the circumstances in which, and terms upon which, the energy activity needs to occur for certificates to be created), the persons by whom certificates may be created (certificate providers), offences for the improper creation of certificates, and the surrender of certificates by scheme participants to a scheme regulator to meet an individual target,

(k) the accreditation of certificate providers and accreditation in respect of energy activities including eligibility and applications for accreditation, duration and conditions of accreditation, the transfer of accreditation, and information and records of accredited certificate providers and accreditation in respect of energy activities,