ASIC ACCC ATO AUSTRAC DSEWPaC Australian Securities Australian Australian Taxation Australian Department of and Investments Competition and Office Transaction Reports Sustainability, Commission Consumer and Analysis Centre Environment, Water, Commission Population and Communities Regulates emissions Addresses Applies equivalent Regulates the trading of Applies equivalent units as financial misrepresentations carbon price to specific emissions units in the carbon price to products under the about the impact of fuels under the Fuel Tax secondary market as a synthetic greenhouse Corporations Act 2001 carbon price on the legislation and, utilising service’ gases under the Ozone ‘designated and Australian price of goods and risk management under the Anti-Money Protection and Securities and services strategies, ensures the Laundering and Synthetic Greenhouse Investments appropriate income tax Counter-Terrorism Gas Management Commission Act 2001 and GST treatment Financing Act 2006 legislation arising from carbon price emissions liabilities 4. Policy Implementation Engagement and education The Regulator recognises that engagement, education and support, in the first instance, assist participants to meet obligations and avoid inadvertent non-compliance. The Regulator releases information in the form of guidelines, factsheets, booklets, brochures, newsletters and calculators. Additionally, the Regulator ensures that participants have the opportunity to raise issues of concern and participate in workshops and discussion forums. Where possible, the Regulator will seek opportunities to engage with participants during the development of its systems through user-centred design processes. Responsibility for complying with relevant requirements legislation administered by the Regulator, including ensuring the accuracy of all information provided to the Regulator, rests with the individual person or organisation affected by the legislation. Monitoring compliance The Regulator monitors compliance with the climate change laws to: determine levels of compliance and identify trends in behaviour detect possible contraventions identify whether, and what type of, education and/or enforcement action may be required, and assess the effectiveness of its operations and programs, and identify opportunities for improvement. Compliance monitoring may occur through: checking of information provided in applications under the various legislative schemes and to the registries
ASIC Australian Securities and Investments Commission ACCC Australian Competition and Consumer Commission ATO Australian Taxation Office AUSTRAC Australian Transaction Reports and Analysis Centre DSEWPaC Department of Sustainability, Environment, Water, Population and Communities Regulates emissions units as financial products under the Corporations Act 2001 and Australian Securities and Investments Commission Act 2001 Addresses misrepresentations about the impact of carbon price on the price of goods and services Applies equivalent carbon price to specific fuels under the Fuel Tax legislation and, utilising risk management strategies, ensures the appropriate income tax and GST treatment arising from carbon price emissions liabilities Regulates the trading of emissions units in the secondary market as a ‘designated service’ under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 Applies equivalent carbon price to synthetic greenhouse gases under the Ozone Protection and Synthetic Greenhouse Gas Management legislation 4. Policy Implementation Engagement and education The Regulator recognises that engagement, education and support, in the first instance, assist participants to meet obligations and avoid inadvertent non-compliance. The Regulator releases information in the form of guidelines, factsheets, booklets, brochures, newsletters and calculators. Additionally, the Regulator ensures that participants have the opportunity to raise issues of concern and participate in workshops and discussion forums. Where possible, the Regulator will seek opportunities to engage with participants during the development of its systems through user-centred design processes. Responsibility for complying with relevant requirements legislation administered by the Regulator, including ensuring the accuracy of all information provided to the Regulator, rests with the individual person or organisation affected by the legislation. Monitoring compliance The Regulator monitors compliance with the climate change laws to: determine levels of compliance and identify trends in behaviour detect possible contraventions identify whether, and what type of, education and/or enforcement action may be required, and assess the effectiveness of its operations and programs, and identify opportunities for improvement. Compliance monitoring may occur through: checking of information provided in applications under the various legislative schemes and to the registries
CER-Compliance-Education-and-Enforcement-policy_March%202015.docx