32
In forceWhen benefit-sharing agreement comes into effect
Part 4Benefit-sharing agreements
32 When benefit-sharing agreement comes into effect
(1)
A benefit-sharing agreement has no effect unless a permit is issued in relation to the biological resources in relation to which the benefit-sharing agreement was entered into.
(2)
A benefit-sharing agreement comes into effect when a permit is issued and samples are taken under the permit.
(3)
If the resource access provider is not the Territory, the bioprospector must:
(a)
give the resource access provider a copy of the permit when issued; and
(b)
advise the resource access provider when samples have been taken under the permit.
This Act’s bill:Explanatory statementSecond reading speech
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