(1) A proprietor of a
carbon right has the legal and commercial benefits and risks arising from
changes to the atmosphere that are caused by carbon sequestration and carbon
release occurring in or on land in respect of which the carbon right is
registered.
(2) A carbon right
—
(a) does
not confer any right of possession; and
(b) is
not a subdivision of land to which section 135 of the
Planning and Development Act 2005 applies.
[Section 8 amended: No. 38 of 2005 s. 15.]