When and how can Australian liable entities use European allowances for compliance under the Australian scheme?
Australian liable entities (businesses covered by the Australian scheme) will be able to use European allowances to assist them in meeting their obligations from 1 July 2015 when the flexible price period begins. In parallel to initiating negotiations on a full link, the Australian Government and the European Commission are working to finalise technical details of the interim link to be agreed by mid-2013 to allow European allowances to be held in the Australian registry. Until then, Australian liable entities can open registry accounts in the EU and purchase European allowances for future compliance under the Australian scheme.
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