Registration of carbon covenant form to create carbon covenant
11 Registration of carbon covenant form to create carbon covenant
A person may lodge with the Registrar, for registration, a form for the creation of a carbon covenant.
A carbon covenant form cannot be registered unless —
it is in a form approved by the Registrar;
it contains a statement that it is for the creation of a carbon covenant under this Act;
it contains a description of the carbon right in relation to which the proposed carbon covenant is to be created;
it contains the land description for the land to be burdened by the proposed carbon covenant;
it identifies, if the proposed carbon covenant is to be in respect of part only of the land referred to in paragraph (d), by way of words or a sketch, the part of the land that is the subject of the proposed carbon covenant;
it contains the terms of the right, obligation or restriction that is the subject of the proposed carbon covenant;
the proprietor of the proposed carbon covenant will be the proprietor of the relevant carbon right;
it specifies —
the day on which the proposed carbon covenant is to commence, which cannot be before the day the relevant carbon right is created; and
the term of the proposed carbon covenant, which cannot be longer than the term of the relevant carbon right;
it contains such other information as is prescribed by the regulations; and
there is compliance with section 104G of the TLA.
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