On 10 March 2009, the Federal Government released the eagerly
anticipated draft Bill designed to introduce the Carbon Pollution
Reduction Scheme. The legislation seeks to implement the design of
the scheme originally proposed in the Government's Green Paper
and more recently set out in the Government's White Paper
issued on 15 December 2008 (see our previous
legal updates). Minister Wong has described the Bill as
containing 'no significant policy changes' from that
outlined in the White Paper.
As anticipated, some aspects of the scheme remain to be dealt
with through regulations, such as the program which will provide
assistance to the emissions-intensive trade-exposed industries.
However the draft Bill does provide the working framework for the
operation of the scheme, detailing who is liable and how that
liability is to be satisfied. This legal update summarises some of
the key components of the proposed legislation. Submissions on the
draft Bill must be submitted
