Biodiversity Conservation Regulation 2017

For the purposes of the definition of total Fund deposit in section 6.21(7) of the Act, a scheduled management payment is the amount specified in the relevant biodiversity stewardship agreement as a management payment in respect of the relevant period if all conditions precedent to the payment that are specified in the agreement are met.

If the total Fund deposit under section 6.21 of the Act in respect of a biodiversity stewardship site increases after an amount is paid into the Biodiversity Stewardship Payments Fund under that section (because, for example, the relevant biodiversity stewardship agreement is varied to increase the management actions under or land subject to the agreement), then the total Fund deposit is to be recalculated.

In that case, section 6.21 of the Act applies again on the basis of the recalculated total Fund deposit to the first transfer of biodiversity credits not yet transferred or retired (or their retirement without having been transferred), but the total re-calculated amount payable into the Biodiversity Stewardship Payments Fund is to be reduced by the amount previously paid in respect of the biodiversity stewardship site.