Change of class of biodiversity credit (section 6.4(2)(a))
6.11 Change of class of biodiversity credit (section 6.4(2)(a))
If a class of biodiversity credits is changed under section 6.17(3) of the Act, a requirement to retire biodiversity credits of the former class under the Act or any other Act (including under an instrument, approval or agreement) may be satisfied by the retirement of biodiversity credits that would, on the advice of the Environment Agency Head, have been described as a credit of the former class prior to the change.
Note.
See also the Biodiversity Conservation (Savings and Transitional) Regulation 2017 which provides for the adjustment of the number of registered credits created under a biobanking agreement to the equivalent numerical value of credits that would have been created under a biodiversity stewardship agreement.
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