New South Wales Repealed Acts New South Wales Repealed ActsThis legislation has been repealed.
(1) The Chief Executive retires a biodiversity credit by making a recording in the entry relating to the credit in the register of biodiversity credits to indicate that the credit has been retired.
(2) The retirement of a biodiversity credit does not affect any requirement imposed on the owner of a biobank site under a biobanking agreement. In particular, it does not affect any requirement that the owner carry out, or continue to carry out, management actions in respect of the land in relation to which the credit was created.
(3) A biodiversity credit that has been suspended by the Chief Executive may not be retired during any period in which the suspension has effect.
(4) The regulations may make further provision for the retirement of biodiversity credits, including the procedure for retiring a credit and the circumstances in which the Chief Executive may refuse an application to retire a credit.