Victorian Consolidated Legislation

Environment Protection Act 1970 - SECT 19AA

Economic measures

19AA. Economic measures



(1) The Authority may develop economic measures for the purpose of providing
an economic incentive to avoid or minimise harm to the environment or any
portion or segment of the environment by a particular activity.

(2) Economic measures such as tradeable permit schemes and environmental
offsets may be used as a means of achieving cost effective environmental
protection or regulation.

(3) An economic measure must clearly identify-

   (a)  the objectives of the economic measure;

   (b)  the type of economic measure proposed;

   (c)  the particular activity in respect of which the economic measure is
        proposed to be used;

   (d)  the harm to the environment or any portion or segment of the
        environment which it is proposed to avoid or minimise by using the
        economic measure;

   (e)  how the economic measure will be integrated with any relevant policy,
        approval, permit, licence or other protection measure under this Act.