6.12
CurrentDeferral of payment of total fund deposit until subsequent transfer (section 6.21(6))
6.12 Deferral of payment of total fund deposit until subsequent transfer (section 6.21(6))
An amount payable under section 6.21 of the Act before a first transfer of a biodiversity credit is registered may be deferred until the second transfer of the credit—
(a)
if the initial holder of the biodiversity credit is a natural person who has died and the first transfer is part of the distribution of the estate of the person and not part of a sale of the credit, or
(b)
if the initial holder of the biodiversity credit sells all of the credits, and all of the land in respect of which they were created, to the same person and that person agrees to the deferral.
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