Variation of Forestry and Carbon Management Agreement

In force

(1)

The obligations under a Forestry and Carbon Management Agreement may be varied with the consent of all persons who are bound by the agreement.

(2)

A variation cannot be made to a Forestry and Carbon Management Agreement to—

(a)

transfer or assign a forest carbon right; or

(b)

vary a forest carbon right; or

(c)

vary the date on which the agreement ends; or

(d)

vary the land to which the agreement applies; or

(e)

vary the parties to the agreement.

(3)

The registered proprietor of a relevant interest in land to which a Forestry and Carbon Management Agreement applies may apply to the Registrar to record the variation to the agreement in the Register.

(4)

Sections 63 and 64 apply to an application to record a variation of a Forestry and Carbon Management Agreement as if it were an application to record the agreement.

(5)

In this section—

relevant interest means—

(a)

a fee simple estate; or

(b)

a leasehold estate; or

(c)

a forest carbon right.

This Act’s bill:Explanatory memorandum Second reading speech

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65 Variation of Forestry and Carbon Management Agreement