Carbon Pollution Permits to be Financial Products Back  Members may be interested to note that the permits issued under the Government’s proposed Carbon Pollution Reduction Scheme will be classified as financial products under the Corporations Act.  Presumably this will facilitate trading in the permits. The permits will be:  ‘…personal property and (there will be no) power to extinguish them without compensation. Each permit would represent one tonne of CO2. Permits would be ‘date stamped’ with the cap year to which they belong. Essentially no barriers are proposed as to who could purchase or hold these permits, to increase the liquidity of the permit market. Ownership of permits would be tracked in a national registry.’ (Carbon Pollution Reduction Scheme Green Paper July 2008 Summary p.46)