87ADefinitions

87A Definitions

87A Definitions

In this Division—

carbon sequestration by a tree or forest means the process by which the tree or forest absorbs carbon dioxide from the atmosphere.

carbon sequestration right, in relation to land, means a right conferred on a person by agreement or otherwise to the legal, commercial or other benefit (whether present or future) of carbon sequestration by any existing or future tree or forest on the land after 1990.

forestry covenant, in relation to land, means a covenant that is incidental to a forestry right and includes any such covenant that imposes obligations requiring—

(a) the construction and maintenance of access roads within the land,

(b) the erection and maintenance of fencing on the land,

(c) the provision and maintenance of water supplies within the land,

(d) the provision of access to or the maintenance of trees or forests on land that is the subject of any carbon sequestration right, or

(e) the ownership of any tree or trees on land that is the subject of a forestry right to be vested in the person who owns the forestry right,

or imposes any term or condition with respect to the performance of or failure to perform any such obligation.

forestry right, in relation to land, means—

(a) an interest in the land pursuant to which a person having the benefit of the interest is entitled—

(i) to enter the land and establish, maintain and harvest (or to maintain and harvest) a crop of trees on the land, or

(ii) to enter the land and establish, maintain and harvest (or to maintain and harvest) a crop of trees on the land and to construct and use such buildings, works and facilities as may be necessary or convenient to enable the person to establish, maintain and harvest the crop, or

(b) a carbon sequestration right in respect of the land, or

(c) a combination of the interest and right referred to in paragraphs (a) and (b).

positive covenant means a covenant for maintenance or repair imposed under section 88BA, a public positive covenant or a forestry covenant.

public positive covenant, in relation to land, includes a covenant which imposes obligations requiring—