Calculation of amount payable as alternative to retiring credits
6.32 Calculation of amount payable as alternative to retiring credits
The Minister is to establish an offsets payment calculator for the purpose of determining the amount that may be paid into the Biodiversity Conservation Fund under this Division.
The calculator is to be established by order published on the NSW legislation website and may be varied or replaced from time to time by similar order.
The calculator may include provision for—
the adoption of datasets and other information or rules published from time to time by the Biodiversity Conservation Trust or other specified person or body, and
the use of specified computer programs and databases for determining the amount to be paid by the application of the calculator, and
cost recovery by the Biodiversity Conservation Trust in connection with securing biodiversity offsets (including risk management costs).
The regulations may make provision for or with respect to the updating of datasets and other information adopted by the calculator (including with respect to the scheduling of updates).
This provision refers to the regulations (The regulations may make
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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