Our compliance approach
We want our compliance approach to be clear, easy to follow and understand. We understand that most regulated entities will do the right thing and meet their legislative obligations.
We support entities to understand their obligations and remain compliant. Where entities do not want to comply or are deliberately non-compliant, we will use our regulatory powers to correct this behaviour and/or deter future non-compliance.
When entities don’t comply or miss the mark, consequences will be fair, proportionate and consistent.
Download our regulatory activities infographic (92 KB PDF)
How we support entities to comply
We have dedicated account managers committed to assisting entities to understand their obligations.
Account managers are contactable through our NVESRegulator@infrastructure.gov.au email address.
Educate and engage
We provide clear guidance on how to meet obligations through:
- providing up to date and relevant information
- maintaining systems that support NVES reporting
- responding to industry enquiries
- actioning transaction requests on the NVES Unit Registry.
Assess and monitor
We assess and monitor performance to make sure entities are on track, such as reviewing NVES data submitted on the Register of Approved Vehicles(Opens in a new tab/window) (RAV), engaging early and often when entries don’t align with expectations, verifying calculations, and instigating audits.
Respond
Through transparent and clear communication and engagement, we work to mitigate and deter non-compliance. This can be through requesting information, issuing infringement notices, and where relevant, instigating civil or criminal proceedings.
What does this look like across the NVES lifecyle?
| Stages | 1 Prepare | 2 Comply | 3 Trade | 4 Manage |
|---|---|---|---|---|
| Engage and educate | We will publish guidance on NVES obligations, RAV entries (NVES data fields), our IT systems, and procedures to open a Unit Registry account. | We work with entities to provide up-to-date and relevant information. | We will deliver training on how to use the NVES Unit Registry. We may also consider establishing ways to help connect potential buyers and sellers. | We will inform entities of our compliance approach. We will publish information about emissions performance and unit holdings. |
| Assess and monitor | We will review Unit Registry account applications to ensure integrity and risk mitigation. | We will detect inconsistencies in data and will ask for evidence over its accuracy. | We will monitor unit trading activity to safeguard the Unit Registry’s integrity. | We may formally request information in relation to potential non-compliance. |
| Respond | We may cancel a person’s Unit Registry account access if they no longer comply with our fit and proper person assessment. | We have a low tolerance for false and misleading information and may use any legislative tools that are available and appropriate to deter this behaviour. | We may suspend a Unit Registry account as an enforcement action (if appropriate according to an entity’s attitude to obligations). | We may issue infringement notices for non-compliance. |
