76EVEET scheme registry account transition period—existing certificate holders

76E VEET scheme registry account transition period—existing certificate holders

(1) During the VEET scheme registry account transition period—

(a) an existing certificate holder may hold, transfer or surrender certificates; and

(b) despite section 24(1), a person may transfer a certificate to an existing certificate holder; and

(c) section 26O does not apply to an existing certificate holder; and

(d) the ESC cannot cancel or suspend the holding, transfer or surrender of certificates by the existing certificate holder.

(2) An existing certificate holder must, before the end of the VEET scheme registry account transition period—

(a) apply for a VEET scheme registry account; or

(b) transfer or surrender any certificate held by the existing certificate holder.

S. 76E(2A) inserted by No. 15/2025 s. 45(1).

(2A) If an existing certificate holder applies for a VEET scheme registry account before the transition period end date and the ESC refuses the application before that date, subsection (1)(a), (c) and (d) continue to apply to that person until the earlier of the following—

(i) if the person requests a review under Division 1 of the decision to refuse the application and that review is not finally determined immediately before the commencement date, the day on which the review is finally determined; or

(ii) in any other case, the commencement date.

S. 76E(3) amended by No. 15/2025 s. 45(2).

(3) Subject to subsection (3A), if an existing certificate holder has applied for a VEET scheme registry account before the transition period end date and the ESC has not determined the application before the transition period end date, this section continues to apply to the existing certificate holder until the date on which the ESC determines the application.

S. 76E(3A) inserted by No. 15/2025 s. 45(3).

(3A) If an existing certificate holder applies for a VEET scheme registry account before the transition period end date and the ESC refuses the application on or after that date, subsection (1)(a), (c) and (d) continue to apply to that person until the earlier of the following—

(i) if the person requests a review under Division 1 of the decision to refuse the application, the day on which the review is finally determined; or

(ii) in any other case, the date of the refusal.

S. 76E(4) amended by No. 15/2025 s. 45(4).

(4) Subject to subsections (4A) and (4B) and section 76EA, a person who applies for a VEET scheme registry account ceases to be an existing certificate holder if—

(a) the ESC has determined the application; and