45DLimitations on certificates that can be surrendered under this Subdivision

#### 45D Limitations on certificates that can be surrendered under this Subdivision Large‑scale generation certificates (1) A liable entity cannot surrender a large‑scale generation certificate for a year under this Subdivision unless: (a) the certificate was created before the end of the year; and (b) the liable entity is recorded in the register of large‑scale generation certificates as the owner of the certificate at whichever of the following times applies: (i) for surrender under section 44A—the time when the energy acquisition statement is lodged; (ii) for surrender under section 45A—the time when the Regulator makes the amendment of the energy acquisition statement; (iii) for surrender under section 45C—the time when the additional surrender notice is lodged; and (c) the certificate is valid at the time that applies under paragraph (b). Small‑scale technology certificates (2) A liable entity cannot surrender a small‑scale technology certificate for a quarter of a year under this Subdivision unless: (a) either: (i) the liable entity acquired the certificate under Division 4 of Part 2A (purchase of certificates through the clearing house); or (ii) if subparagraph (i) does not apply—the certificate was created before the end of the year; and (b) the liable entity is recorded in the register of small‑scale technology certificates as the owner of the certificate at whichever of the following times applies: (i) for surrender under section 45—the time when the surrender instrument for the quarter is lodged; (ii) for surrender under section 45A—the time when the Regulator makes the amendment of the energy acquisition statement; (iii) for surrender under section 45C—the time when the additional surrender notice is lodged; and (c) the certificate is valid at the time that applies under paragraph (b). (3) The liable entity cannot surrender a small‑scale technology certificate for a quarter of the year under this Subdivision if, at the time that applies under paragraph (2)(b), the certificate is on the clearing house transfer list (see section 30L).