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Rh Waiver of small assessments

24. Where it appears to the Agency that the amount of any tax or additional tax to which any registered person is liable does not exceed $15 or such higher amount as may be prescribed in substitution, the Agency may waive the assessment of such tax.

Mistakes in assessment

25. If the provisions of this Act are in substance and effect complied with, no assessment, charge or demand for any tax is to be quashed or affected by reason of any mistake in—
 * (a) the name of any registered person liable to pay the tax; or
 * (b) the amount of tax assessed as charged.

Division 3—Carbon credits Carbon credits

26.—(1) The carbon price of a carbon credit is specified in Part 2 of the Third Schedule.

(2) Except as permitted under this Act, a carbon credit cannot be sold, transferred, assigned or otherwise disposed of or dealt with.

Crediting of carbon credits

27.—(1) Subject to section 32, the Agency must credit into the registry account for a taxable facility of a registered person, such number of carbon credits that the registered person applies and pays for, in relation to that registry account.

(2) A registered person may apply to the Agency to transfer any carbon credit from a registry account for any of its taxable facilities to the registry account for any of its other taxable facilities.

Surrender of carbon credits

28.—(1) Subject to section 32, a registered person may surrender one or more carbon credits in the registry account for a taxable facility of the registered person, in payment of the tax payable by the registered person in relation to the taxable facility.