| (1) | A taxpayer conducting an activity in respect of— |
| (a) | energy in respect of any power purchase agreement as defined in the Electricity Regulations on New Generation Capacity made by the Minister of Energy under section 35 (4) of the Electricity Regulation Act, 2006 (Act No. 4 of 2006) published by Government Notice 721 of 5 August 2009 in respect of the IPP bid programme as defined in those regulations that was signed on or before 9 May 2013 with contracted capacity exceeding 15 MegaWatt, with a cost equal to or lower than R1.09 per kilowatt hour; |
| (b) | renewable energy generated in respect of a technology with an installed capacity exceeding 15 MegaWatt with a cost equal to or lower than R1.09 per kilowatt hour; |
| (c) | [Regulation 4(1)(c) deleted by section 5(a) of Notice No. 595, GG44818, dated 8 July 2021] |
| (d) | the destruction of industrial gases trifluoromethane (HFC-23) and nitrous oxide (N2O) from adipic acid production; |
| (f) | geological carbon dioxide capture and sequestration; or |
| (g) | a temporary CDM certified emission reduction. |
may not receive the allowance in respect of an offset in respect of that activity.
| (2) | A taxpayer may not receive the allowance in respect of an offset of a project in respect of which any allowance has been received in terms of section 12L of the Income Tax Act, 1962 (Act No. 58 of 1962). |
[Regulation 4(2) substituted by section 5(b) of Notice No. 595, GG44818, dated 8 July 2021]
| (3) | For the purpose of this regulation— |
"renewable energy"
means energy generated from the following sources—
"temporary CDM certified emission reduction"
means a temporary certified emission reduction as defined in the United Nations Framework Convention on Climate Change, Clean Development Mechanism Glossary: CDM Terms.
[Regulation 4(3) inserted by section 5(c) of Notice No. 595, GG44818, dated 8 July 2021]
