72ECircumstances in which subsection 22XN(6) of the Act does not apply

72E Circumstances in which subsection 22XN(6) of the Act does not apply

(1) This section is made for the purposes of subsection 22XN(7) of the Act. Contracts entered into after 30 March 2023 (2) Subsection 22XN(6) of the Act does not apply in relation to a carbon abatement contract entered into after 30 March 2023 (otherwise than by way of novation). Units not attributable to the avoidance of covered emissions (3) Australian carbon credit units are not taken under subsection 22XN(6) of the Act to have been surrendered for the purpose of reducing the net emissions number for a facility for a period if those units are not attributable to the avoidance of covered emissions of greenhouse gases from the operation of the facility during the period. Carbon abatement contract does not refer to a particular eligible offsets project (4) Subsection 22XN(6) of the Act does not apply in circumstances where units that: (a) were issued in respect of a particular eligible offsets project; and (b) are covered by paragraph 22XN(6)(c) of the Act; are purchased by the Commonwealth under a carbon abatement contract that does not refer to that particular project.