3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears –[Section 3 Amended by No. 8 of 2002, s. 4, Applied:30 May 2002]

[Section 3 Amended by No. 8 of 2002, s. 4, Applied:30 May 2002] carbon sequestration, by a tree or forest, means the process by which the tree or forest absorbs carbon dioxide from the atmosphere;

[Section 3 Amended by No. 8 of 2002, s. 4, Applied:30 May 2002] 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;

[Section 3 Amended by No. 8 of 2002, s. 4, Applied:30 May 2002] forestry covenant means –

(a) a covenant, whether positive or restrictive in effect, that is –

(i) incidental to a forestry right; and

(ii) contained in the instrument by which the forestry right is created or varied; and

(iii) registered under the Land Titles Act 1980 or the Registration of Deeds Act 1935 ; or

(b) a variation of any such covenant;

[Section 3 Amended by No. 8 of 2002, s. 4, Applied:30 May 2002] forestry right, in relation to land, means any (or any combination) of the following interests in the land granted by its owner:

(a) ownership of trees;

(b) a carbon sequestration right;

(c) a right to establish, maintain or harvest, or maintain and harvest, trees –