Nature Conservation Act 2002
40Covenants with affected owners
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40 Covenants with affected owners
(1) The Minister on behalf of the Crown may enter into a conservation covenant with an affected owner who applies for compensation under this Division.
(2) Divisions 2 and 5 have the same application to a conservation covenant entered into under this Division, and any variation or discharge of such a covenant, as they have to any other conservation covenant entered into under this Part.
(3) [Section 40 Subsection (3) amended by No. 9 of 2011, Sched. 1, Applied:01 Oct 2012] If the Minister and an affected owner fail to agree on the provisions of a conservation covenant within 6 months of commencing negotiations on the covenant, the provisions are to be determined by an arbitrator in accordance with the Commercial Arbitration Act 2011 .
(4) The determination of an arbitrator under subsection (3) is final and binding on the Minister and the affected owner.