(1) Subject to this
section, a person credited under section 25A with having achieved an
environmental benefit (the "assignor") may, with the written approval of
the Council, assign the whole or part of the credit to another
person or body (the "assignee").
(2) An application for
approval under subsection (1)—
(a) must
be made in a manner and form determined by the Council; and
(b) must
be accompanied by such information as the Council may reasonably require; and
(c) must
be accompanied by the prescribed fee.
(3) The Council must
not give its approval under subsection (1) unless the assignor has
complied with any requirement of the Council to do 1 or more of the
following:
(a)
enter into a heritage agreement in respect of the native vegetation that is
the subject of the credit to be assigned;
(b)
enter into a management agreement under section 25D in respect of the
native vegetation that is the subject of the credit to be assigned.
(4) Before giving its
approval under subsection (1), the Council must have regard to any
Regional Biodiversity Plan or Plans approved by the Minister that apply within
any region relevant to the application.
(5) An approval may be
conditional or unconditional.
(6) A condition of an
approval is binding on, and enforceable against—
(a) the
assignor; and
(b) all
owners and occupiers, and subsequent owners and occupiers, of the land on
which the native vegetation that is the subject of the assigned credit is
growing or situated.
(7) The Council may,
by notice in writing, vary or revoke a condition of an approval.
(8) An approval
remains in force for the period specified by the Council in the approval, or
for such longer period as the Council may fix on application by the assignor
or assignee.
(9) The Council must
inform the Registrar-General in writing of all conditions imposed under this
section that relate to land and must provide the Registrar-General with such
further information as the Registrar-General requires to comply with
subsection (10).
(10) The
Registrar-General must note the conditions against the relevant instrument of
title for the land or, in the case of land not under the Real Property
Act 1886 , against the land.
(11) The
Registrar-General must, on the application of the Council after the variation
or revocation of a condition under this section, vary or cancel a note under
subsection (10) (but must otherwise ensure that the note is not removed
once made).
(12) For the purposes
of this Act—
(a)
credit assigned under this section will be taken to be credit of the assignee;
(b) an
assignment of credit that contravenes this section is, unless the Council
determines otherwise, void and of no effect.