New South Wales Consolidated Acts

BIODIVERSITY CONSERVATION ACT 2016 - SECT 6.17

6.17 Creation of biodiversity credits

(1) Biodiversity credits are created by (and in accordance with) a biodiversity stewardship agreement when the agreement first takes effect, at any later time provided by the agreement or when an amendment of the agreement that increases the number of credits takes effect.

(2) When a biodiversity credit is created, the Environment Agency Head must, as soon as practicable--

(a) register the creation of the credit (and its class) in the register of biodiversity credits under Part 9, and

(b) record the owner of the land as the holder of the credit.

A biodiversity credit has effect even if it has not been so registered.

(3) The Environment Agency Head may make such changes to the number and class of biodiversity credits that have been created and not retired as are authorised by, and in accordance with, the regulations.