Pre-existing benefit-sharing agreements
45 Pre-existing benefit-sharing agreements
(1) This section applies to a benefit-sharing agreement entered into between the Territory and a bioprospector before the commencement of this Act under which:
(a) the Territory gave the bioprospector the right to use, for biodiscovery, biological resources:
taken from Territory land or waters; or
(ii) sourced from biological resources from Territory land or waters; and
(b) the bioprospector agreed to provide benefits to the Territory arising from biodiscovery.
(2) On and from the commencement, the agreement is taken to be a benefit-sharing agreement entered into under section 16(1) and the CEO must enter the agreement in the register.
This Act’s bill:Explanatory statementSecond reading speech
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