16EEffect of forestry compensation certificate

16E Effect of forestry compensation certificate

[Section 16E Inserted by No. 12 of 2014, s. 22, Applied:22 Oct 2014]

(1)  A forestry compensation certificate entitles the holder of the certificate to receive compensation in accordance with this section.

(2)  The holder of a forestry compensation certificate is entitled to compensation if the Forestry corporation certifies to the Minister that the Forestry corporation is, when requested by the holder, prevented from supplying logs to the holder, up to the quantities specified in the forestry compensation certificate and on the terms specified in the wood supply contract to which the certificate relates, as a result of –

(a) a change of the law of the State, including any change to section 16 of this Act, that has the effect of diminishing the quantities of logs available to the Forestry corporation for the supply of logs in accordance with the terms of the wood supply contract; or

(b) a change of policy –

(i) in relation to forest practices, within the meaning of the Forest Practices Act 1985 ; or

(ii) solely or primarily in relation to the Tasmanian forest industry by the Tasmanian Government –

that has the effect of diminishing the quantities of logs available to the Forestry corporation for the supply of logs in accordance with the terms of the wood supply contract.

(3)  The Forestry corporation must certify in accordance with subsection (2) if it is unable to supply logs in accordance with the terms of a wood supply contract.

(4)  Certification by the Forestry corporation under subsection (2) must include –

(a) the name of the holder of the forestry compensation certificate at the date of certification; and

(b) a description of the wood supply contract to which the certificate relates that is sufficient to enable that contract to be identified; and

(c) the annual quantity of logs to which the certificate relates; and