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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Forestry Rights (Amendment) Act 2000
Act No.
TABLE OF PROVISIONS
Clause Page
PART 1--PRELIMINARY 1
1. Purposes 1
2. Commencement 2
3. Principal Act 2
PART 2--CARBON SEQUESTRATION RIGHTS 3
4. Definitions 3
5. Carbon sequestration right part of forest property right 3
6. Carbon rights agreements 4
12. Carbon rights agreements 4
13. Notification to Department Head 4
14. Carbon rights agreement not forest property agreement
or interest in land 5
15. Existing forest property agreements include carbon
sequestration right 5
PART 3--NOTIFICATION OF FOREST PROPERTY
AGREEMENTS 7
7. Definitions 7
8. Notification required in certain circumstances 8
9. Form of notification 8
7A. Form of notification 8
ENDNOTES 10
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541139B.A1-23/3/2001 BILL LA AS SENT 23/3/2001
PARLIAMENT OF VICTORIA
Initiated in Assembly 1 November 2000
As amended by Assembly 22 March 2001
A BILL
to amend the Forestry Rights Act 1996 to provide for rights to
exploit carbon sequestered by trees, to require notification to be given
for certain agreements under that Act and for other purposes.
Forestry Rights (Amendment) Act 2000
The Parliament of Victoria enacts as follows:
PART 1--PRELIMINARY
1. Purposes
The main purposes of this Act are--
(a) to amend the Forestry Rights Act 1996 to
5 provide for rights to the commercial
exploitation of carbon sequestered by trees;
and
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Forestry Rights (Amendment) Act 2000
s. 2
Act No.
(b) to provide for notification to holders of
registered mortgages or charges to be given
in relation to certain forest property
agreements.
5 2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
3. Principal Act
See:
In this Act, the Forestry Rights Act 1996 is Act No.
10 called the Principal Act. 29/1996
and
amending
Act No.
85/1998.
LawToday:
www.dms.
dpc.vic.
gov.au
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Forestry Rights (Amendment) Act 2000
s. 4
Act No.
PART 2--CARBON SEQUESTRATION RIGHTS
4. Definitions
(1) In section 3 of the Principal Act, insert the
following definitions--
5 ' "carbon rights agreement" means an
agreement entered into under section 12;
"carbon sequestration right" means a right to
commercially exploit carbon sequestered by
trees;
10 "Department Head" means the Department
Head (within the meaning of the Public
Sector Management and Employment Act
1998) of the Department of Natural
Resources and Environment;'.
15 (2) In section 3 of the Principal Act, in the definition
of "forest property" after paragraph (b) insert--
"; and
(c) carbon sequestered by trees;".
(3) At the end of section 3 of the Principal Act
20 insert--
"(2) In this Act, a reference to "carbon
sequestered by trees" is a reference to the
process by which carbon is sequestered in
trees by the absorption by trees of carbon
25 dioxide from the atmosphere.".
5. Carbon sequestration right part of forest property
right
(1) In section 5 of the Principal Act, after paragraph
(a) insert--
30 "(ab) to grant to that person a carbon sequestration
right in relation to forest property on that
land; and".
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(2) In section 5(c) of the Principal Act, after sub-
paragraph (ii) insert--
"; and
(iii) to monitor and measure carbon sequestered
5 by trees on that land.".
6. Carbon rights agreements
After section 11 of the Principal Act insert--
"12. Carbon rights agreements
(1) A forest property owner may enter into an
10 agreement with a person to grant the forest
property owner's carbon sequestration right
to that person.
(2) A carbon rights agreement must--
(a) be in writing; and
15 (b) specify the following--
(i) the parties to the agreement; and
(ii) the land to which the agreement
applies; and
(iii) the rights and duties of the parties
20 to the agreement; and
(iv) the date or circumstances under
which the agreement terminates.
(3) A carbon rights agreement may specify any
other matters consistent with the matters set
25 out in sub-section (2) to which the parties
agree.
13. Notification to Department Head
(1) A person who is granted a carbon
sequestration right under a carbon rights
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agreement must provide the following details
to the Department Head in writing within
28 days after the carbon rights agreement is
entered into--
5 (a) notification that a carbon rights
agreement has been entered into; and
(b) the land to which that agreement
applies; and
(c) the area of land in hectares to which
10 that agreement applies.
Penalty: 1 penalty unit.
(2) A failure to notify the Department Head
under sub-section (1) does not affect the
validity of any carbon rights agreement.
15 14. Carbon rights agreement not forest
property agreement or interest in land
(1) A carbon rights agreement is not a forest
property agreement for the purposes of this
Act.
20 (2) A carbon rights agreement is deemed not to
be an interest in land.
15. Existing forest property agreements include
carbon sequestration right
(1) A forest property right granted under a forest
25 property agreement in force immediately
before the commencement of the Forestry
Rights (Amendment) Act 2000 is deemed
to include a carbon sequestration right in
relation to the forest property on the land to
30 which that agreement relates.
(2) A carbon sequestration right deemed by sub-
section (1) to be included in a forest property
right granted under a forest property
agreement may be dealt with in accordance
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with this Act as amended by the Forestry
Rights (Amendment) Act 2000.
(3) Sub-section (1) does not apply to any forest
property agreement in force immediately
5 before the commencement of the Forestry
Rights (Amendment) Act 2000 if that
agreement expressly provides that the forest
property right granted does not include any
carbon sequestration right.".
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Forestry Rights (Amendment) Act 2000
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Act No.
PART 3--NOTIFICATION OF FOREST PROPERTY
AGREEMENTS
7. Definitions
In section 3 of the Principal Act, insert the
5 following definitions--
' "holder of a registered mortgage or charge"
means--
(a) a person or body that is a mortgagee
under a registered instrument of
10 mortgage; or
(b) a person or body that is entitled to the
benefit of a charge under a registered
charge;
"registered mortgage or charge", in relation to
15 land which is subject to a forest property
agreement, means--
(a) an instrument of mortgage--
(i) recorded on the folio of the
Register within the meaning of the
20 Transfer of Land Act 1958
relating to that land; or
(ii) registered under the Property
Law Act 1958;
(b) a charge--
25 (i) recorded on the folio of the
Register within the meaning of the
Transfer of Land Act 1958
relating to that land; or
(ii) registered under the Property
30 Law Act 1958;'.
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Act No.
8. Notification required in certain circumstances
(1) At the end of section 5 of the Principal Act
insert--
"(2) An owner of land must not enter into a forest
5 property agreement under this section if the
agreement relates to land which is subject to
a registered mortgage or charge unless at
least 14 days before the agreement is entered
into, the owner of the land has notified the
10 holder of the registered mortgage or charge
that it is proposed to enter into the
agreement.".
(2) At the end of section 7 of the Principal Act
insert--
15 "(2) If the forest property agreement to be
amended relates to land which is subject to a
registered mortgage or charge, the parties to
that agreement must not amend that
agreement unless at least 14 days before the
20 agreement is amended, the owner of the land
has notified the holder of the registered
mortgage or charge that it is proposed to
amend the agreement.".
9. Form of notification
25 After section 7 of the Principal Act insert--
"7A. Form of notification
A notice given under section 5(2) or section
7(2) must be in writing and must--
(a) be served on the holder of the
30 registered mortgage or charge
personally or by registered post; and
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(b) include a copy of--
(i) the forest property agreement to
be entered into; or
(ii) in the case of an amendment of an
5 agreement, a copy of that
amendment; and
(c) state that it is a requirement of the Act
that at least 14 days notice in writing is
given to the holder of a registered
10 mortgage or charge before a forest
property agreement is entered into or
amended.".
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Forestry Rights (Amendment) Act 2000
Endnotes
Act No.
ENDNOTES
By Authority. Government Printer for the State of Victoria.
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