Protection of the Environment Operations (Hunter River Salinity Trading Scheme) Regulation 2002
84Auction and sale proceeds
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84 Auction and sale proceeds
84 Auction and sale proceeds
(1) When calculating the total contributions amount for a scheme year (the current scheme year), the EPA is to deduct from the total cost of the scheme for the current scheme year the proceeds of credit sales for the previous scheme year. The total contributions amount is to be reduced accordingly.
(2) If the proceeds of credit sales for the previous scheme year exceeds the total cost of the scheme for the current scheme year, the EPA may deduct the amount of the excess (or any part of the excess) from the total cost of the scheme in any scheme year that follows the current scheme year. The total contributions amount is to be reduced accordingly.
(3) In this clause, the proceeds of credit sales for a scheme year means the total proceeds of any auction or other sale of credits by the EPA held during that scheme year.
cl 84: Subst 2016 (775), Sch 1 [64].