FOREST PROPERTY ACT 2000 - SECT 6

FOREST PROPERTY ACT 2000 - SECT 6

6—Form and content of forest property agreement

        (1)         A forest property agreement—

            (a)         must be in writing; and

            (b)         must state that it is made under this Act; and

            (c)         must identify the land to which it applies; and

            (d)         must describe present and future forest vegetation to which it applies with sufficient particularity to enable it to be clearly identified; and

            (e)         must state—

                  (i)         if the agreement is made for a specific term—the term of the agreement; and

                  (ii)         the circumstances in which the agreement comes to an end or can be brought to an end; and

            (f)         must comply with any requirements prescribed by regulation.

        (2)         A forest property agreement may—

            (a)         require or permit any party to the agreement to take, or refrain from, specified action relating to the planting, cultivation, maintenance, care, harvesting, destruction or removal of forest vegetation; and

            (b)         confer on the transferee a right to enter the land to inspect the forest vegetation and to exercise rights, or carry out obligations, relating to the forest vegetation; and

            (c)         deal with the duty of care to be exercised by each party to the other; and

            (d)         deal with incidental matters.

        (3)         The following consents are required for the making of a forest property agreement—

            (a)         in the case of a forest property agreement conferring ownership of vegetation—the holder of any registered encumbrance over the land must consent to the agreement; and

            (b)         in the case of a forest property agreement conferring ownership of carbon rights—

                  (i)         the holder of a registered encumbrance over the land; and

                  (ii)         the holder of any registered mortgage or charge over the vegetation,

must consent to the agreement.

        (4)         However, the Court may dispense with a consent under subsection (3) on the ground that—

            (a)         the consent has been unreasonably withheld; or

            (b)         there is some other good reason to dispense with it.

        (5)         A forest property agreement is ineffective unless the consents required under this section have been obtained or dispensed with.