This Part does not apply to—
(a) unalienated Crown land or reserved Crown land; or
(b) land in an identified folio under the Transfer of Land Act 1958 ; or
(c) a lease of Crown land registered under the Transfer of Land Act 1958 ; or
(d) land not under the Transfer of Land Act 1958 ; or
(e) carbon that is owned by the Crown in accordance with the Greenhouse Gas Geological Sequestration Act 2008 or carbon sequestered in an underground geological storage formation within the meaning of that Act.
Division 2—Forest carbon rights