19Preservation of existing biodiversity credits under TSC Act

#### 19 Preservation of existing biodiversity credits under TSC Act 19 Preservation of existing biodiversity credits under TSC Act > > (1) Biodiversity credits created under the [Threatened Species Conservation Act 1995](/view/html/repealed/current/act-1995-101) and not retired or cancelled before the repeal of that Act are taken to be biodiversity credits under Part 6 of the new Act, being biodiversity credits that the Environment Agency Head determines are reasonably equivalent to the biodiversity credits so created under the [Threatened Species Conservation Act 1995](/view/html/repealed/current/act-1995-101). > > > (2) If biodiversity credits have not been created under the [Threatened Species Conservation Act 1995](/view/html/repealed/current/act-1995-101) following the entry into a biobanking agreement before or after the repeal of that Act, section 127W of that Act continues to apply for the purposes of the creation of the biodiversity credits, but those biodiversity credits are to be created in accordance with the new Act and without the need for the site to be registered as a biobank site under that Act. > > > (3) An order under section 127ZI of the [Threatened Species Conservation Act 1995](/view/html/repealed/current/act-1995-101) that continues to have effect on the repeal of that Act is taken to be an order under section 6.29 of the new Act.