24Requirement in lieu of newness requirement

24  Requirement in lieu of newness requirement

1.       For the purposes of subparagraph 27(4A)(a)(ii) of the Act, the requirement in lieu of the newness requirement for a savanna sequestration project is the requirement in subsection (2).
2.       Each project area for the project:
3.     must be a transferring project area; or
4.     must not have had any project covered by a savanna fire management determination or by this instrument undertaken in any part of the project area; or
5.     if the project area has had a project covered by a savanna fire management determination or by this instrument undertaken in any part of the project area—must not have had any Australian carbon credit units issued in relation to any part of the project area while the project was covered by any such methodology determination.

Modification of operation of some provisions of this instrument if paragraph (2)(c) is met

Note:  For a project area that meets the requirement of paragraph (2)(c), some provisions of this instrument will operate in a modified manner to account for the project that has been previously undertaken. Subsection (3) sets out these modifications.

1.       For a project area that meets the requirement of paragraph (2)(c):
2.     for the purposes of subsection 15(3), disregard the section 22 application or the section 29 application in which the project area referred to in paragraph (2)(c) was first identified; and
3.     for the purposes of subsection 27(1), disregard the project referred to in paragraph (2)(c); and
4.     for the purposes of the following: 1.      paragraph 3(1)(a) of Schedule 1; 2.    paragraph 3(1)(a) of Schedule 2;

disregard any values that might have been calculated in relation to the project area referred to in paragraph (2)(c).