New South Wales Consolidated Regulations

THREATENED SPECIES CONSERVATION (BIODIVERSITY BANKING) REGULATION 2008 - REG 4

4 Creation of biodiversity credits in respect of land with existing conservation obligations

(1) The methodology must provide that biodiversity credits may be created in respect of management actions carried out or proposed to be carried out in respect of a biobank site only if the management actions are additional to any biodiversity conservation measures, or other actions, that are already being carried out on the land, or are required to be carried out, under:

(a) a restriction on use or public positive covenant under Part 4A of the Crown Lands Act 1989 , or

(b) a conservation agreement entered into under the National Parks and Wildlife Act 1974 , or

(c) a trust agreement entered into under the Nature Conservation Trust Act 2001 , or

(d) any agreement entered into with a public authority under which the owner of the land receives funding for biodiversity conservation purposes (other than a biobanking agreement), or

(e) in the case of publicly owned land, any Act.

(2) Subclause (1) does not apply to the following:

(a) a restriction on use or public positive covenant under Part 4A of the Crown Lands Act 1989 that is imposed in connection with an application to purchase land that is duly made by a lease holder in respect of that land before 10 March 2009,

(b) a conservation agreement entered into under the National Parks and Wildlife Act 1974 as a result of a proposal made by the landholder to the Minister administering that Act before 10 March 2009,

(c) a trust agreement entered into under the Nature Conservation Trust Act 2001 as a result of a proposal made by the landholder to the Nature Conservation Trust of New South Wales before 10 March 2009.

(3) In this clause:
"publicly owned land" means land owned by, or under the control of, the State, the Commonwealth or a public authority, other than land that is the subject of a perpetual lease or land that the Minister is satisfied is being managed by a person or body (other than the State, the Commonwealth or a public authority) under a long term lease, licence or other arrangement.

Note: See also clause 11, which prevents certain land from being designated as a biobank site. This includes land that is subject to other existing biodiversity conservation arrangements.