58BMeaning of eligible facility

58B Meaning of eligible facility

(1) A facility is an eligible facility, for a financial year (the current financial year), if: (a) the facility was a designated large facility for another financial year (the last covered financial year); and (b) the facility has not been a designated large facility for any of the financial years beginning after the last covered financial year; and (c) the current financial year is one of the 10 financial years following the last covered financial year; and (d) the facility was a designated large facility in at least: (i) 3 historical financial years; or (ii) 2 of the financial years in the period of 4 financial years immediately preceding the last covered financial year; and (e) subsection (3) applies to the facility for the current financial year. (2) A facility is also an eligible facility, for the current financial year, if: (a) the current financial year begins after 30 June 2028; and (b) the facility was a designated large facility for at least 3 of the financial years in the period of 5 financial years immediately preceding the current financial year; and (c) subsection (3) applies to the facility for the current financial year. (3) This subsection applies to a facility for the current financial year if: (a) either: (i) an emissions intensity determination applies in relation to the facility for the current financial year; or (ii) the facility is a new facility; and (b) no Australian carbon credit units attributable to the avoidance of covered emissions of greenhouse gases from the operation of the facility were issued under the Carbon Credits (Carbon Farming Initiative) Act 2011 in the current financial year or the previous financial year, in respect of an eligible offsets project that reduced covered emissions of greenhouse gases from the operation of the facility. (4) A facility is also an eligible facility, for the current financial year, if: (a) the facility was a designated large facility for another financial year (the last covered financial year); and (b) the facility has not been a designated large facility for any of the financial years beginning after the last covered financial year; and (c) the current financial year is one of the 10 financial years following the earlier of: (i) the last year for which safeguard mechanism credits were not issued to a person in relation to the facility; and (ii) the financial year 3 years after the last covered financial year; and (d) the facility was a designated large facility in at least: (i) 3 historical financial years; or (ii) 2 of the financial years in the period of 4 financial years immediately preceding the last covered financial year; and (e) subsection (3) applies to the facility for the current financial year; and (f) no safeguard mechanism credits have been issued to a person in relation to the facility for the financial year after the last covered financial year.