BIODIVERSITY CONSERVATION ACT 2016 - SECT 10.16 Biodiversity Conservation Fund

BIODIVERSITY CONSERVATION ACT 2016 - SECT 10.16

10.16 Biodiversity Conservation Fund

(1) There is to be established by this Act in the Special Deposits Account the Biodiversity Conservation Fund.

(2) The following amounts are to be paid into the Fund, subject to any requirements specified in the regulations--

(a) amounts received by the Trust that are not required to be paid to the Biodiversity Stewardship Payments Fund or to the Biodiversity Conservation Trust Public Fund,

(b) amounts directed to be paid to the Fund under Division 6 of Part 6 as an alternative to the retirement of biodiversity credits,

(c) the proceeds of investment of money in the Fund,

(d) any other money appropriated by Parliament for the purposes of the Fund or required by this or any other Act or law to be paid into the Fund.

(3) The following may be paid out of the Fund, subject to any requirements specified in the regulations--

(a) such amounts as are required to meet the expenditure incurred by the Trust in the exercise of its functions and that are not required to be paid out of the Biodiversity Stewardship Payments Fund or the Biodiversity Conservation Trust Public Fund,

(b) such amounts as are required to be paid for securing biodiversity offsets resulting from payments to the Fund as an alternative to the retirement of biodiversity credits,

(c) such amounts as are authorised to be paid out of the Fund by the regulations,

(d) such other amounts as are authorised to be paid out of the Fund by this or any other Act or law.