104AAlternative assurance agreements

104A Alternative assurance agreements

(1) The Regulator and the project proponent for a registered biodiversity project may enter into a written agreement that: (a) applies to a specified reporting period; and (b) is for the purpose of providing assurance to the Regulator about the project proponent’s compliance with this Act in relation to the project during the reporting period; and (c) contains one or more assurance measures, where each measure is of a kind prescribed by the rules. (2) An agreement under subsection (1) is to be known as an alternative assurance agreement. Civil penalty provision (3) The project proponent for a registered biodiversity project contravenes this subsection if: (a) the project proponent enters into an alternative assurance agreement with the Regulator; and (b) the project proponent does not comply with the alternative assurance agreement.

Civil penalty: 200 penalty units.

(4) The maximum civil penalty for each day that a contravention of subsection (3) continues is 5% of the maximum civil penalty that can be imposed in respect of that contravention.

Note: Subsection (3) is a continuing civil penalty provision under section 93 of the Regulatory Powers Act.