Biodiversity Conservation Regulation 2017

The Fund Manager is to keep a separate account in relation to each biodiversity stewardship site (a biodiversity stewardship site account) that records the following—

payments paid into the Fund in respect of a transfer or retirement of biodiversity credits created in respect of that biodiversity stewardship site (as referred to in section 6.34(2)(a) of the Act),

management payments paid out of the Fund in respect of the biodiversity stewardship site.

Money held in each biodiversity stewardship site account may be invested as a common pool. The proceeds of investment are to be distributed among the biodiversity stewardship site accounts that contributed to the common pool according to the amount contributed, or in such other manner as the Minister directs.

The Fund Manager may keep one or more other accounts (referred to in this Division as a general account) in relation to any amounts paid into or out of the Fund that are not recorded in a biodiversity stewardship site account.

Payments made into or out of the Fund that are not referred to in subclauses (1) and (2) are to be recorded in the accounts of the Fund in accordance with the directions of the Minister.