39Form and terms of agreements

39 Form and terms of agreements An environmental protection agreement— (a) must be in writing executed by the parties to the agreement; and (b) has effect for a specified period, unless terminated earlier in accordance with the agreement; and (c) may contain terms providing for any matter that the parties agree is appropriate for furthering the objects of this Act, for example, agreeing— (i) to take specified action, to comply with an industry standard or code of practice or to comply with other specified standards (including prescribed standards), for the purpose of preventing, minimising or eliminating environmental harm caused or likely to be caused by the activity; or (ii) to meet progressively higher standards for the prevention, minimisation or elimination of environmental harm caused or likely to be caused by the activity; or (iii) to provide for how the agreement will operate if there is a change in the person who is conducting the activity; or Environmental protection agreements Part 7 (iv) to provide for the consequences of a party breaching the agreement, including the circumstances in which a party may terminate for breach; or (v) to provide for the circumstances in which and the method by which a party may terminate the agreement; and (d) may be varied in writing by the parties, including by extending the term of the agreement.