Part 4ACredit, assignment and third party establishment of environmental benefits

Part 4A—Credit, assignment and third party establishment of environmental benefits 25A—Credit for environmental benefits (1) If— (a) a person— (i) has achieved an environmental benefit (not being a benefit required in relation to a consent to clear native vegetation or under any other requirement under this Act); or (ii) has, in accordance with a consent to clear native vegetation, achieved an environmental benefit that exceeds the value of the minimum benefit needed to offset the loss of the cleared vegetation; and (b) the Council is satisfied that the benefit or excess benefit (as the case requires) is of a significant value, the Council may, for the purposes of this Act— (c) credit the person with having achieved an environmental benefit of a value determined by the Council (whether monetary or otherwise); and (d) take into account and apply the value of the credit (adjusted to reflect the value, in the Council's opinion, of the native vegetation the subject of the credit at the time it is so applied) to— (i) an amount of environmental benefit the person must achieve; or (ii) an amount of compensation proposed to be paid into the Fund under section 28(4); or (iii) an amount to be paid into the Fund under any other provision of this Act as an alternative to achieving an environmental benefit. (2) In determining the value of an excess benefit contemplated by subsection (1)(a)(ii), the Council must have regard to the approximate difference between the value of the environmental benefit achieved by the person and the value of the environmental benefit that would, in the Council's opinion, have been the minimum the person would have been required to achieve in the circumstances. 25B—Assignment of credit (1) Subject to this section, a person credited under section 25A with having achieved an environmental benefit (the assignor) may, with the written approval of the Council, assign the whole or part of the credit to another person or body (the assignee). (2) An application for approval under subsection (1)— (a) must be made in a manner and form determined by the Council; and (b) must be accompanied by such information as the Council may reasonably require; and (c) must be accompanied by the prescribed fee. (3) The Council must not give its approval under subsection (1) unless the assignor has complied with any requirement of the Council to do 1 or more of the following: (a) enter into a heritage agreement in respect of the native vegetation that is the subject of the credit to be assigned; (b) enter into a management agreement under section 25D in respect of the native vegetation that is the subject of the credit to be assigned. (4) Before giving its approval under subsection (1), the Council must have regard to any Regional Biodiversity Plan or Plans approved by the Minister that apply within any region relevant to the application. (5) An approval may be conditional or unconditional. (6) A condition of an approval is binding on, and enforceable against— (a) the assignor; and (b) all owners and occupiers, and subsequent owners and occupiers, of the land on which the native vegetation that is the subject of the assigned credit is growing or situated. (7) The Council may, by notice in writing, vary or revoke a condition of an approval. (8) An approval remains in force for the period specified by the Council in the approval, or for such longer period as the Council may fix on application by the assignor or assignee. (9) The Council must inform the Registrar‑General in writing of all conditions imposed under this section that relate to land and must provide the Registrar‑General with such further information as the Registrar‑General requires to comply with subsection (10). (10) The Registrar‑General must note the conditions against the relevant instrument of title for the land or, in the case of land not under the Real Property Act 1886, against the land. (11) The Registrar‑General must, on the application of the Council after the variation or revocation of a condition under this section, vary or cancel a note under subsection (10) (but must otherwise ensure that the note is not removed once made). (12) For the purposes of this Act— (a) credit assigned under this section will be taken to be credit of the assignee; (b) an assignment of credit that contravenes this section is, unless the Council determines otherwise, void and of no effect. 25C—Achievement of environmental benefit by accredited third party provider (1) Subject to this section, a requirement under this Act that an environmental benefit be achieved by a person (the proponent) may, with the written approval of the Council, be satisfied by means of the achievement of the environmental benefit by an accredited third party provider. (2) An application for approval under subsection (1)— (a) must be made in a manner and form determined by the Council; and (b) must be accompanied by such information as the Council may reasonably require; and (c) must be accompanied by the prescribed fee. (3) The Council must not give its approval under subsection (1) unless the accredited third party provider— (a) has entered into a management agreement under section 25D in respect of the native vegetation comprising the environmental benefit; and (b) has complied with any other requirements prescribed by the regulations for the purposes of this section. (4) Before giving its approval under subsection (1), the Council must have regard to any Regional Biodiversity Plan or Plans approved by the Minister that apply within any region relevant to the application. (5) An approval may be conditional or unconditional. (6) A condition of an approval is binding on, and enforceable against— (a) the accredited third party provider; and (b) all owners and occupiers, and subsequent owners and occupiers, of the land on which the native vegetation comprising the environmental benefit is growing or situated. (7) The Council may, by notice in writing, vary or revoke a condition of an approval. (8) An approval remains in force for the period specified by the Council in the approval, or for such longer period as the Council may fix on application by the proponent or provider. (9) The Council must inform the Registrar‑General in writing of all conditions imposed under this section that relate to land and must provide the Registrar‑General with such further information as the Registrar‑General requires to comply with subsection (10). (10) The Registrar‑General must note the conditions against the relevant instrument of title for the land or, in the case of land not under the Real Property Act 1886, against the land. (11) The Registrar‑General must, on the application of the Council after the variation or revocation of a condition under this section, vary or cancel a note under subsection (10) (but must otherwise ensure that the note is not removed once made). (12) In this section— accredited third party provider means a person or body accredited for the purposes of this section in accordance with the regulations. 25D—Management agreements (1) The Minister may enter into a management agreement with— (a) an assignor of credit under section 25B; or (b) an accredited third party provider of an environmental benefit under section 25C. (2) A management agreement may contain such provisions for the management of the relevant native vegetation as the Minister thinks fit, including (without limiting the generality of this subsection)— (a) requiring specified work or work of a specified kind to be carried out in accordance with specified standards on the land on which the relevant native vegetation is growing or situated (the subject land); and (b) restricting the nature of work or other activities that may be carried out on the subject land. (3) A management agreement attaches to the subject land and is binding on the current owner of the subject land whether or not that owner was the person with whom the agreement was made. (4) The Minister may, by agreement with the owner of the subject land to which a management agreement applies, vary or terminate the agreement. (5) A management agreement is, to the extent specified in the agreement, binding on the occupier of the subject land. (6) The Minister must not enter into, vary or terminate a management agreement under this section without first consulting and obtaining the approval of the Council. (7) If the Minister enters into a management agreement, or an agreement varying or terminating a management agreement, the Registrar‑General must, on application by the Minister, note the agreement against the relevant instrument of title or, in the case of subject land not under the Real Property Act 1886, against the land (and, subject to an appropriate application under this subsection, must ensure that the note is not removed once made). relevant native vegetation means the native vegetation that is the subject of credit assigned under section 25B or that comprises the environmental benefit achieved, or to be achieved, by the accredited third party provider under section 25C (as the case requires). 25E—Register (1) The Council must keep a register for the purposes of this Part. (2) The register must contain the information required by the regulations in relation to— (a) each credit under section 25A; and (b) each application of credit toward the matters contemplated by section 25A(1)(d); and (c) each assignment of credit under section 25B; and (d) each achievement of an environmental benefit by accredited third party providers under section 25C; and (e) each management agreement under section 25D, and may contain any other information the Council thinks fit. (3) The register must be kept available for public inspection, without fee, at the office of the Council during ordinary office hours.