Section 70A

A carbon licence granted under subsection (1) shall be subject to such payment of fees and other charges and shall grant the holder of that carbon licence full legal and beneficial title to the carbon stock or GHG stock associated with a Forest Carbon Activity as well as any carbon credit units issued by a Carbon Standard in respect of the Emission Reductions achieved by such Forest Carbon

Activity.

Subject to the rules made under section 113, the licence holder shall be entitled to participate in the carbon trading to which it has full legal and beneficial title pursuant to subsection (2) in accordance with the applicable Carbon Standard Rules.

A carbon licence granted under subsection (1) shall contain such other terms and conditions as the Director in consultation with the Minister may specify therein including any such terms or conditions that the Director in consultation with the Minister may impose in accordance with rules made under section 113.

Any person who contravenes this provision shall be guilty of an offence and shall, upon conviction be punished with a fine of not less than one hundred thousand ringgit and not exceeding five million ringgit and imprisonment for a term not exceeding five years, or to both and the court may, on upon conviction, order payment of compensation to the Government of an amount equivalent to ten times the value (as assessed by the Director) of forest produce or other property related to or involved in the commission of the offence.

48 CAP.

The carbon stocks or GHG and any carbon credit issued by the Carbon Standard shall be included as part of the Nationally

Determined Contribution and reported by the Director to the appropriate body in the Government of Malaysia.

The Minister may cancel or suspend a Forest Carbon

Licence granted under this section in accordance with section 42.

Interpretation