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Participant obligations

25 November 2015

ERF

It is important that you understand your legal obligations before you apply to participate in the Emissions Reduction Fund.

Participants in the Emissions Reduction Fund are required to comply with all requirements of the Carbon Cred​​​its (Carbon Farming Initiative) Act 2011​ ,the Carbon Credits (Carbon Farming Initiative) Rule 2015,  and the method which applies to their project. This includes, but is not limited to:

  • record keeping, reporting and audit requirements
  • maintenance of Fit and Proper Person status
  • maintenance of the legal right to undertake the project
  • notification requirements, including the need to notify the Clean Energy Regulator of any changes to their project and/or project participants, and all notification requirements in Division 3 of the Act
  • maintenance of carbon stores throughout the permanence period (for sequestration projects)
  • carbon maintenance obligations (if one has been issued).

Failure to comply with obligations may result in penalty, including revocation of a project, and/or a requirement that a specified number of Australian Carbon Credit Units be relinquished, and/or civil penalties; and/or criminal proceedings.

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