Carbon Credits Trading Act No. 36 of 2022. Country/Territory Bahamas Document type Legislation Date 2022 Source FAO, FAOLEX Original source Supplement Part I of the Official Gazette No. 32, 11 August 2022. Long titleAn Act to regulate the trading of carbon credits in or from the Bahamas. Subject Environment gen. Keyword Air quality/air pollution Business/industry/corporations Certification Climate change Credit Data collection/reporting Emissions trading Offences/penalties Pollution control Emissions Geographical area Americas, Caribbean, Latin America and the Caribbean, North Atlantic, Small Island Developing States Entry into force notes This Act enters into force on the day appointed by Minister by Order published in the Official Gazette. Abstract This Act establishes a regulatory framework for the trading of carbon credits in or from the Bahamas. This Act shall apply to any person who participates in the promotion, marketing, arranging, purchase or sale of carbon trading products; and to any legal entity carrying on a carbon trading business irrespective of the physical location from which the activity is carried out. This Act lays down provisions for (I) the creation of a regulatory framework for the conduct of carbon credit business, including carbon trading exchanges, carbon credit verification bodies and carbon trading registries, (II) defining the requirements for the Commission's approval of the listing of carbon trading products on carbon trading exchanges, (III) defining the registration requirements for persons wishing to engage in carbon trading activities or operate, (IV) defining mandatory requirements for registrants to maintain adequate financial resources and solvency, (V) defining requirements for registrants to implement and maintain registration and data protection measures, (VI) defining requirements for registrants to comply with anti-money laundering and countering the financing of terrorism prevention measures and standards, and (VII) establishing offenses, penalties, and sanctions for non-compliance with the Act. Full text English Website www.scb.gov.bs