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  1. Point in time
    2005-04-21

greenhouse gas emissions allowance

an allowance, licence, permit, right, note, unit, credit, asset, certificate or instrument (the "allowance") where:

  1. (a) the allowance confers or may result in a benefit or advantage to its holder or another person; and
  2. (b) the allowance, or the benefit or advantage in (a), is linked to the emission or non-emission of quantities of carbon dioxide or other greenhouse gases into the environment by the holder of the allowance or someone else.2