49When variation applies, or does not apply, to existing registered biodiversity project—general rule

49  When variation applies, or does not apply, to existing registered biodiversity project—general rule

When variation applies to a registered biodiversity project

 (1) For the purposes of subsection 49(2) of the Act, a variation of a methodology determination that covers a registered biodiversity project applies to the project if:

 (a) the project’s registration is in effect at the time the variation takes effect; and

 (b) none of the circumstances mentioned in paragraph (2)(b) apply.

Note: The Regulator may determine that the variation does not apply to the project despite this subsection: see section 50.

When variation does not apply to a registered biodiversity project

 (2) For the purposes of subsection 49(3) of the Act, a variation of a methodology determination that covers a registered biodiversity project does not apply to the project if:

 (a) the project’s registration is in effect at the time the variation takes effect; and

 (b) any of the following circumstances apply:

 (i) the 2‑year period beginning at the time the variation takes effect has not ended;

 (ii) a biodiversity certificate was issued for the project before the time the variation takes effect;

 (iii) an application for a biodiversity certificate was made, but not determined, before the time the variation takes effect.