Carbon Tax Act, 2019 (Act No. 15 of 2019)RegulationsRegulations under section 19 of the Carbon Tax ActPart V : Offset registry6. Creation of offset registry |
| (1) | The administrator must create or cause to be created and maintain or cause to be maintained an offset registry. |
| (2) | The offset registry must consist of— |
| (a) | a project database containing information in respect of approved projects, the persons undertaking those approved projects and the documents submitted to the administrator in respect of those approved projects. |
| (b) | an ownership repository consisting of an electronic database reflecting the listing, transfer of ownership and retirement of offsets. |
| (3) | The offset registry must contain a record of any— |
| (a) | offset registered in terms of regulation 9; |
| (b) | offset of which ownership changes; |
| (c) | offset in respect of which a certificate was issued in terms of regulation 9(i); |
| (d) | an offset that was retired in pursuance of the issuance of a certificate in terms of regulation 9(i); |
| (e) | correction to an existing offset; and |
| (f) | offset that has been revoked due to any material fact that changed or the taxpayer failed to comply with any requirement which would have had the effect that an offset would not have been available under these Regulations had such change in fact or such failure been known at the time of recognising of the offset under these Regulations. |