Security
61 Security
A Forestry and Carbon Management Agreement may include conditions—
requiring a party to the agreement to deposit with a person specified in the agreement—
a sum of money fixed in, or determined in accordance with, the agreement; or
an undertaking to pay that sum together with security in a form determined by or in accordance with the agreement; or
any other form of security provided for, by or under the agreement; or
requiring the sum or part of the sum to be forfeited if there is any failure by the owner to carry out the agreement; or
providing that any money deposited must be returned to the relevant party on a date or dates specified to the extent that it has not been forfeited.
This Act’s bill:Explanatory memorandumSecond reading speech
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