Biodiversity Conservation (Savings and Transitional) Regulation 2017

This clause applies to an obligation to retire credits under the Threatened Species Conservation Act 1995 under the following that have not been retired on the repeal of that Act—

a condition of a development consent under Part 4 of the Environmental Planning and Assessment Act 1979,

a condition of a State significant infrastructure approval under Part 5.1 of the Environmental Planning and Assessment Act 1979,

a decision of a determining authority to carry out an activity, or approve the carrying out of an activity, under Part 5 of the Environmental Planning and Assessment Act 1979,

a requirement of biodiversity certification, or of a biodiversity certification agreement, under Part 7AA of the Threatened Species Conservation Act 1995,

any other obligation imposed by a provision of or made under an Act or statutory instrument or an agreement.

If biodiversity credits that are required to be retired under any such obligation have not been retired on the commencement of the new Act, the obligation is to be construed as requiring the retirement of biodiversity credits under the new Act that remain to be retired.

The Environment Agency Head may, for the purposes of this clause, determine the biodiversity credits under the new Act that are reasonably equivalent to the remaining biodiversity credits under the Threatened Species Conservation Act 1995 that remain to be retired.