Environmental Offsets Act 2014
sec.23What is a financial settlement offset
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sec.23 What is a financial settlement offset
A financial settlement offset is a payment, in relation to delivering an offset condition imposed on an authority, by the authority holder to the department or a local government of an amount required by the administering agency that granted the authority. The amount of the payment is— if the administering agency is a local government—an amount up to the amount determined by the local government in accordance with the environmental offsets policy; or for any other administering agency—an amount determined by the administering agency in accordance with the environmental offsets policy. s 23 amd 2014 No. 59 s 13G (sec.23-ssec.1) A financial settlement offset is a payment, in relation to delivering an offset condition imposed on an authority, by the authority holder to the department or a local government of an amount required by the administering agency that granted the authority. (sec.23-ssec.2) The amount of the payment is— if the administering agency is a local government—an amount up to the amount determined by the local government in accordance with the environmental offsets policy; or for any other administering agency—an amount determined by the administering agency in accordance with the environmental offsets policy.
- (a) if the administering agency is a local government—an amount up to the amount determined by the local government in accordance with the environmental offsets policy; or
- (b) for any other administering agency—an amount determined by the administering agency in accordance with the environmental offsets policy.