4Simplified outline of this Act

4 Simplified outline of this Act

A biodiversity project is a project to enhance or protect biodiversity in native species.

An eligible person may apply for a biodiversity project to be registered on the Biodiversity Market Register. To be registered, a biodiversity project must meet various requirements, including requirements:

(a) to be carried out by one or more project proponents (including the applicant) who are fit and proper persons; and

(b) to be covered by a methodology determination.

Methodology determinations are legislative instruments that cover particular kinds of biodiversity projects, and set out how a project is to be carried out and the circumstances in which a biodiversity certificate will be issued for a project.

The Minister may make a biodiversity assessment instrument that prescribes requirements to be complied with by methodology determinations.

A biodiversity certificate represents the biodiversity outcome that a registered biodiversity project is designed to achieve. Biodiversity certificates are the property of their registered holders, and may be transferred.

This Act imposes certain obligations on project proponents. These obligations include:

(a) obligations to comply with requirements in the methodology determination that covers a project; and

(b) reporting and notification obligations; and

(c) record‑keeping and monitoring obligations.

The Biodiversity Market Register holds entries for each registered biodiversity project and each biodiversity certificate.

This Act is administered by the Minister and the Clean Energy Regulator. The Regulator has a range of powers available to enforce the obligations of a project proponent, including the following:

(a) civil penalties (some of which apply only after a biodiversity certificate has been issued for a project);

(b) other powers under the Regulatory Powers Act;

(c) powers to require projects to be audited;

(d) powers to require project proponents to relinquish biodiversity certificates;

(e) the power to make a biodiversity maintenance declaration that prohibits certain activities in a project area.

This Act also contains provisions for:

(a) the establishment of the Nature Repair Committee to advise the Minister in relation to the Minister’s functions under this Act; and

(b) biodiversity integrity standards which a methodology determination must meet; and

(c) internal review of decisions under the Act, and review by the Administrative Review Tribunal.