|ANREU authorised representative|
An authorised representative is an individual nominated to operate ANREU account.
Authorised representatives have the ability to perform all unit management functions, including transferring units from the applicant’s account to other ANREU accounts or transferring eligible international units to registries in other countries.
The Clean Energy Regulator must be satisfied that a person is fit and proper before approving them as an authorised representative.
It is expected that individuals and sole traders will not require an authorised representative, as they are likely to operate their own accounts themselves. However, individuals and sole traders are permitted to nominate an authorised representative if they wish.
All other ANREU account holders, such as companies, trusts or local councils, require at least one authorised representative. Where additional authorised representatives are nominated, one authorised representative must be nominated as the ‘primary’ representative and the other nominated representatives are then known as ‘secondary’ representatives. The role of the primary authorised representative is to be the main contact for any ANREU account administrative matters, such as receiving notices, information or requests from the Clean Energy Regulator. Authorised representatives may also request that the Clean Energy Regulator add or remove other authorised representatives.
The Clean Energy Regulator recommends that an ANREU account holder appoints at least two authorised representatives and specifies that one authorised representative may initiate a transaction (the transaction initiator) and another authorised representative may approve the transaction (the transaction approver).
This reduces the risk of a mistake being made when making a transaction, as well as reducing the risk of fraud. Where there is only one authorised representative nominated for the account these actions can be performed by that one person (but it is necessary to authorise them for both functions). Authorised representatives can be nominated as either an initiator only, approver only, or both initiator and approver by checking the relevant boxes in the application form.
Based on Clean Energy Regulator data http://www.cleanenergyregulator.gov.au
|Last Updated on Friday, 28 December 2012 11:33|