Assignment of credit
25B Assignment of credit
Subject to this section, a person credited under section 25A with having achieved an environmental benefit (the assignor) may, with the written approval of the Council, assign the whole or
part of the credit to another person or body (the assignee).
An application for approval under subsection (1)—
must be made in a manner and form determined by the Council; and
must be accompanied by such information as the Council may reasonably require; and
must be accompanied by the prescribed fee.
The
Council must not give its approval under subsection (1) unless the assignor has complied with any requirement of the Council to do 1 or more of the following:
enter into a heritage agreement in respect of the native vegetation that is the subject of the credit to be assigned;
enter into a management agreement under section 25D in respect of the native vegetation that is the subject of the credit to be assigned.
Before giving its approval under subsection (1), the Council must have regard to any Regional Biodiversity Plan or
Plans approved by the Minister that apply within any region relevant to the application.
An approval may be conditional or unconditional.
A condition of an approval is binding on, and enforceable against—
the assignor; and
all owners and occupiers, and subsequent owners and occupiers, of the land on which the native vegetation that is the subject of the assigned credit is growing or situated.
The
Council may, by notice in writing, vary or revoke a condition of an approval.
An approval remains in force for the period specified by the Council in the approval, or for such longer period as the Council may fix on application by the assignor or assignee.
The
Council must inform the Registrar‑General in writing of all conditions imposed under this section that relate to land and must provide the Registrar‑General with such further information as the Registrar‑General requires to comply with subsection (10).
The
Registrar‑General must note the conditions against the relevant instrument of title for the land or, in the case of land not under the Real
Property Act 1886, against the land.
The
Registrar‑General must, on the application of the Council after the variation or revocation of a condition under this section, vary or cancel a note under subsection (10) (but must otherwise ensure that the note is not removed once made).
For the purposes of this Act—
credit assigned under this section will be taken to be credit of the assignee;
an assignment of credit that contravenes this section is, unless the
Council determines otherwise, void and of no effect.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.