•       This Act sets up a scheme for the issue of Australian carbon credit units in relation to eligible offsets projects.

•       An Australian carbon credit unit is personal property and is generally transferable.

•       The main eligibility requirements for eligible offsets projects are as follows:

               (a)     the project must be carried out in Australia;

              (b)     the project must be covered by a methodology determination made under this Act.

•       A methodology determination must comply with the offsets integrity standards set out in this Act.

•       This Act is administered by the Carbon Credits Administrator.