Having consulted the Minister of Finance and having had regard to all the relevant matters, pursuant to section 68 of the Climate Change Response Act 2002, I direct the Registrar of the New Zealand Emission Unit Register to issue 86 million
New Zealand units into the Crown holding account in the New Zealand Emission Unit Registry on 1 July 2010.
I direct the Registrar to identify and "tag" 17 million New Zealand Units as non-exportable, and "tag" 69 million New Zealand Units as suitable for conversion and exportable.
Dated at Wellington this 27th day of May 2010.
HON DR NICK SMITH, Minister for Climate Change Issues.