97CA   Greenhouse penalties

(1)  A benchmark participant who fails to comply with the participant’s greenhouse gas benchmark for reduction of greenhouse gas emissions for a year is liable to pay the greenhouse penalty in respect of the excess emissions.

(2)  The amount of the greenhouse penalty per tonne of carbon dioxide equivalent of greenhouse shortfall determined under this Part is the following amount, as adjusted in accordance with any regulations made under subsection (3):

(a)  for the year concerned before the year commencing 1 January 2010—$11.50,

(b)  for the year commencing 1 January 2010—$12.50,

(c)  for the year commencing 1 January 2011—$13.50,

(d)  for the year commencing 1 January 2012—$14.50,

(e)  for the year commencing 1 January 2013 and each subsequent year—$15.50.

(3)  The regulations may provide for the adjustment of the amount of greenhouse penalty in accordance with movements in the consumer price index.

(4)  A greenhouse penalty payable for a year by a benchmark participant is payable on 1 March in the following year or on any later date determined by the Tribunal for a benchmark participant.

(5)  A greenhouse penalty imposed under this Part may be recovered in any court of competent jurisdiction as a debt due to the Crown.

(6)  It is the wish of the Parliament that any greenhouse penalties payable to the Crown under this Part be used for the promotion of greenhouse gas reduction activities and programs nominated from time to time by the Minister.

(7)  In this section:

consumer price index means the Consumer Price Index (All Groups Index) for Sydney issued by the Australian Statistician.

Note. Section 97BE sets out when a greenhouse penalty is payable for a greenhouse shortfall that is carried forward.