Queensland Consolidated Acts Queensland Consolidated Acts(1) The main purposes of this Act are--
(a) to facilitate access by biodiscovery entities to minimal quantities of native biological resources on or in State land or Queensland waters (State native biological resources) for biodiscovery; and
(b) to encourage the development, in the State, of value added biodiscovery; and
(c) to ensure the State, for the benefit of all persons in the State, obtains a fair and equitable share in the benefits of biodiscovery; and
(d) to ensure biodiscovery enhances knowledge of the State's biological diversity, promoting conservation and sustainable use of native biological resources.
(2) The purposes are achieved mainly by providing for--
(a) the following streamlined frameworks--
(i) a regulatory framework for taking and using State native biological resources, in a sustainable way, for biodiscovery;
(ii) a contractual framework for benefit sharing agreements to be entered into with biodiscovery entities for the use, for biodiscovery, of State native biological resources; and
(b) a compliance code and collection protocols for taking native biological material; and
(c) the monitoring and enforcement of compliance with this Act.