18How many certificates may be created in respect of a prescribed activity

18 How many certificates may be created in respect of a prescribed activity S. 18(1) amended by No. 15/2025 s. 5(1). (1) An accredited person may create a certificate for each applicable amount of carbon dioxide equivalent of greenhouse gases to be reduced by the prescribed activity as determined in accordance with this section. S. 18(1AA) inserted by No. 15/2025 s. 5(2). (1AA) The applicable amount for a prescribed activity is— (a) if no law required that activity to be undertaken—1 whole tonne; or (b) if a law required that activity to be undertaken, either— (i) the amount provided for by the regulations in respect of that activity; or (ii) if the regulations do not so provide, 1 whole tonne. S. 18(1AAB) inserted by No. 15/2025 s. 5(2). (1AAB) Regulations made under section 75 may provide for— (a) an amount in respect of a particular prescribed activity for the purposes of subsection (1AA)(b)(i); or (b) a method and variables to be used to calculate an amount in respect of a particular prescribed activity for the purposes of subsection (1AA)(b)(i). S. 18(1A) inserted by No. 55/2010 s. 84, amended by No. 15/2025 s. 5(3). (1A) If an amount of carbon dioxide equivalent of greenhouse gases to be reduced by the prescribed activity is less than the applicable amount but greater than or equal to half the applicable amount, the accredited person may create 1 certificate in respect of the carbon dioxide equivalent of greenhouse gases to be reduced by the prescribed activity. (2) Regulations made under section 75 may provide for the method and variables to be used to calculate the carbon dioxide equivalent of greenhouse gases to be reduced by the prescribed activity for the purposes of this section. S. 18(3) inserted by No. 15/2025 s. 5(4). (3) The method and variables to be used to calculate the carbon dioxide equivalent of greenhouse gases to be reduced by a prescribed activity may provide for the calculation, if the prescribed activity was undertaken because a law required a prescribed activity to be undertaken, of the reduction that is additional to what compliance with that law entailed. S. 18(4) inserted by No. 15/2025 s. 5(4). (4) If a method and variables is provided for in respect of a prescribed activity as described in subsection (3), a reference in this Act to the carbon dioxide equivalent of greenhouse gases to be reduced by the activity is a reference to the additional reduction described in that subsection.