New South Wales Consolidated Acts

BIODIVERSITY CONSERVATION ACT 2016 - SECT 6.27

6.27 Retirement of biodiversity credits

(1) The holder of a biodiversity credit that is in force may apply in writing to the Environment Agency Head to retire the credit.

(2) An application to retire a biodiversity credit may be made by the holder of the credit--

(a) for the purpose of complying with a requirement to retire biodiversity credits of a planning approval or a vegetation clearing approval, or

(b) for the purpose of complying with a requirement to retire biodiversity credits of a planning agreement under section 93F of the Environmental Planning and Assessment Act 1979 , or

(c) for the purpose of complying with a requirement to retire biodiversity credits of a biodiversity certification of land, or

(d) for the purpose of complying with a requirement of the Minister to retire biodiversity credits under section 11.25 or another provision of this Act, or

(e) for the purpose of complying with an order of a court, or

(f) on a voluntary basis, or

(g) in any other circumstances authorised by this Act or the regulations.

(3) An application to retire a biodiversity credit must--

(a) be made in the form approved by the Environment Agency Head and contain the information required by that form, and

(b) be accompanied by the fee prescribed by the regulations.

The Environment Agency Head may require the applicant to provide such additional information as the Environment Agency Head may require to determine the application.

(4) The Environment Agency Head may refuse an application to retire a biodiversity credit if--

(a) the application has not been duly made, or

(b) the Environment Agency Head is satisfied that an obligation to undertake management actions under the biodiversity stewardship agreement that enabled the creation of the credit has not been complied with (but only if the credit is sought to be retired without being first transferred), or

(c) any payment required to be made to the Biodiversity Stewardship Payments Fund under section 6.21 (Payment to Fund on first transfer of biodiversity credit or on retirement without first transfer) in relation to the biodiversity credit has not been made, or

(d) any payment required to be made to the Minister under this Part in relation to the biodiversity credit for costs relating to the biodiversity offsets scheme has not been made, or

(e) the regulations authorise the Environment Agency Head to refuse the application.

(5) The Environment Agency Head retires a biodiversity credit by making a recording in the register of biodiversity credits under Part 9, in relation to the biodiversity credit concerned, that indicates that the credit has been retired.

(6) The retirement of a biodiversity credit does not affect any requirement imposed on the owner of a biodiversity stewardship site under a biodiversity stewardship agreement. In particular, it does not affect any requirement that the owner carry out management actions in respect of the land in relation to which the credit was created.

(7) A biodiversity credit that has been suspended by the Environment Agency Head may not be retired during any period in which the suspension has effect.