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 (b) the person has transferred or surrendered all of the certificates held by the person into a VEET scheme registry account. S. 76E(4A) inserted by No. 15/2025 s. 45(5). (4A) If a person's application for a VEET scheme registry account is refused before the transition period end date, that person ceases to be an existing certificate holder on 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(4B) inserted by No. 15/2025 s. 45(5). (4B) If a person's application for a VEET scheme registry account is refused on or after the transition period end date, that person ceases to be an existing certificate holder on 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(5) substituted by No. 15/2025 s. 45(6). (5) In this section— ***commencement date*** means the day on which Part 10 of the **Victorian Energy Efficiency Target Amendment (Energy Upgrades for the Future) Act 2025** comes into operation. S. 76EA inserted by No. 15/2025 s. 46. 76EA Deemed transfer of certificates on approval of application after transition period end date If the ESC, on or after the transition period end date, approves the application of an existing certificate holder for a VEET scheme registry account, on the approval of that application— (a) the person ceases to be an existing certificate holder; and (b) all of the certificates held by that person at the time of the approval are taken to be transferred to the person. S. 76EB inserted by No. 15/2025 s. 46. 76EB Transfer of certificates after transition period end date (1) Despite anything to the contrary in section 24, on and after the transition period end date, a certificate may be transferred to an existing certificate holder if— (a) the existing certificate holder has applied for a VEET scheme registry account before the transition period end date; and (b) the ESC has not determined the application. (2) The transfer of a certificate to an existing certificate holder under subsection (1) is not invalid merely because the existing certificate holder does not hold a VEET scheme registry account at the time of the transfer. (3) Despite anything to the contrary in section 24, on and after the transition period end date, a person who does not hold a VEET scheme registry account may transfer or surrender a certificate that the person held immediately before the commencement date. (4) Subsection (3) is **repealed** on 31 October 2030. (5) In this section— ***commencement date*** means the date on which section 24 of the **Victorian Energy Efficiency Target Amendment Act 2022** comes into operation. S. 76F inserted by No. 34/2022 s. 28.