New South Wales Consolidated Regulations

THREATENED SPECIES CONSERVATION (BIODIVERSITY BANKING) REGULATION 2008

- Made under the Threatened Species Conservation Act 1995
- As at 19 December 2008
- Reg 291 of 2008

TABLE OF PROVISIONS

   PART 1 - PRELIMINARY

   1.      Name of Regulation
   2.      Definitions

   PART 2 - BIOBANKING ASSESSMENT METHODOLOGY

   3.      Special requirements in relation to land with high biodiversity conservation values
   4.      Creation of biodiversity credits in respect of land with existing conservation obligations
   5.      Review of methodology
   6.      Minister may change methodology following review
   7.      Minister may change methodology following public consultation
   8.      Public consultation requirements
   9.      Minor changes to methodology not requiring public consultation
   10.     Changes to methodology-general

   PART 3 - BIOBANKING AGREEMENTS

   11.     Land excluded from being designated as biobank site
   12.     Assessment of biobank site
   13.     Preparation of management plans
   14.     Application to enter into biobanking agreement
   15.     Fit and proper person criteria
   16.     Variation of biobanking agreement
   17.     Termination of biobanking agreement
   18.     Annual contribution by owners of biobank site

   PART 4 - BIODIVERSITY CREDITS

   19.     Retirement of biodiversity credits
   20.     Verification of retirement of biodiversity credits
   21.     Cost recovery-contribution by holders of biodiversity credits under section 127ZZ

   PART 5 - BIOBANKING STATEMENTS

   22.     Additional grounds for refusal of application for biobanking statement
   23.     Cost recovery-contribution by applicants under section 127ZZ
   24.     Modification and revocation of biobanking statement

   PART 6 - PAYMENTS TO FUND ON FIRST TRANSFER OF BIODIVERSITY CREDITS

   25.     Payment of amount to Fund on first transfer of credit
   26.     Total Fund deposit-meaning
   27.     Discount rates
   28.     Part extends to retirement of credits without first transfer

   PART 7 - BIOBANKING TRUST FUND

   29.     Payment of management payments from Fund
   30.     Separate accounts to be kept in relation to each biobank site
   31.     Account balances
   32.     Payments from biobank site account that has an operational deficit
   33.     Payments from biobank site account that has an operational surplus
   34.     Payments from biobank site account that has insufficient funds to cover payment
   35.     Termination of biobank site account
   36.     Biobank sites that become national parks or other reserves
   37.     Environmental Trust may be appointed as Fund Manager
   38.     Annual report of Fund Manager
   39.     Quarterly report of Fund Manager
   40.     Fund to be kept separate from other accounts
   41.     Insurance
   42.     Winding up of Fund
   43.     Committees
   44.     Directions by Minister

   PART 8 - REGISTERS

   45.     Register of biobank sites
   46.     Register of biodiversity credits
   47.     Register of biobanking statements
   48.     Information not to be disclosed on registers
   49.     Arrangements for public access generally
   50.     Provision of copies of registers

   PART 9 - MISCELLANEOUS

   51.     Calculation of fee unit
   52.     Withdrawal of applications