ACCC begins court action against Prime Carbon

The Australian Competition and Consumer Commission (ACCC) has begun legal proceedings in the Federal Court against Prime Carbon Pty Ltd, based on allegations that the carbon trading company made false or misleading representations about the National Environment Registry (NER) and the National Stock Exchange of Australia Limited (NSX).

The regulator has also made allegations that Prime Carbon's director Ken Bellamy was knowingly involved in or a party to some of the company's misconducts. Prime Carbon sells a soil carbon sequestration and other projects, which aims to take carbon from the atmosphere and store it in agricultural land, and is designed to abate and offset greenhouse gas.

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