42Unilateral cancellation of registration of biodiversity project—failure of multiple project proponents to nominate a nominee

42 Unilateral cancellation of registration of biodiversity project—failure of multiple project proponents to nominate a nominee

(1) The rules may make provision for and in relation to empowering the Regulator to cancel the registration of a registered biodiversity project.

Note: For review of decisions, see Part 20.

(2) Rules made for the purposes of subsection (1) must not empower the Regulator to cancel a registration unless: (a) there are 2 or more project proponents (the multiple project proponents) for the registered biodiversity project; and (b) the multiple project proponents have nominated an eligible person under subsection 37(2) or 38(2); and (c) the nomination ceases to be in force; and (d) 90 days pass, and no new nomination under subsection 37(2) or 38(2) is made by the multiple project proponents. (3) Rules made for the purposes of subsection (1) must require the Regulator to consult the multiple project proponents before deciding to cancel the registration. (4) Rules made for the purposes of subsection (1): (a) must provide that, if the registration of a registered biodiversity project is cancelled in accordance with those rules, the Regulator must give notice of the cancellation to: (i) if there is a relevant land registration official in relation to the project—the relevant land registration official; and (ii) if a biodiversity certificate is in effect in relation to the project, and is held by a person other than the project proponent—the holder of the certificate; and (b) may require the Regulator to give notice of the cancellation to other people.