(1)  As soon as practicable after the activity, mitigation, measure or action constituting a registered offset comes to its natural end –

(a) if the registered offset relates to land – the owner of the land; or

(b) if the registered offset relates to water – the owner of the dam to which the registered offset relates –

must notify the Secretary, in writing, of that fact.

(2)  On receiving a notice under subsection (1) , the Secretary is to cancel the registration of the relevant offset by removing it from the offsets register.