70673b93__Garnaut_Climate_Change_Review___Administration_and_regulation
Permit issuance Use of revenue from permit sales Determine manner of permit issuance and setting fixed prices for permits during the transitional period (2010–12). Receive revenue for general allocation under formula.b Decide on the use of permit revenue.
Sell permits in line with fixed prices (2010–12) or emissions trajectories established by government. Purchase permits abroad as required to reconcile domestic emissions in particular years with international agreements or to provide for the honouring of the five-year forward commitment after a change in trajectory.
The Garnaut Climate Change Review
Independent carbon bank: Administration and regulation