Victorian Consolidated Legislation

Forestry Rights Act 1996 - SECT 3

Definitions

3. Definitions



(1) In this Act-



carbon rights agreement means an agreement entered into under section 12;



carbon sequestration right means a right to commercially exploit
carbon sequestered by trees;

Department Head means the Department Head (within the meaning of the
Public Administration Act 2004) of the Department of Sustainability and
Environment;



forest property means-

   (a)  all parts of trees including any parts below the ground; and

   (b)  the products of trees whether or not those products have become
        separated from those trees prior to being harvested; and

   (c)  carbon sequestered by trees;

forest property agreement means an agreement entered into under section 5 and
that complies with section 6;

forest property owner means-

   (a)  a person who is entitled to a forest property right under a forest
        property agreement; or

   (b)  any assignee of that right;

forest property right means a right granted by a forest property agreement;

holder of a registered mortgage or charge means-

   (a)  a person or body that is a mortgagee under a registered instrument of
        mortgage; or

   (b)  a person or body that is entitled to the benefit of a charge under a
        registered charge;

owner means-

   (a)  in relation to land which is under the operation of the
        Transfer of Land Act 1958 (other than land in an identified folio
        under that Act), the person who is registered or entitled to be
        registered as proprietor of an estate in fee simple in the land; and

   (b)  in relation to land which is in an identified folio under the
        Transfer of Land Act 1958 or is not under the operation of the
        Transfer of Land Act 1958, the person who is the owner of the fee or
        equity of redemption;

registered mortgage or charge, in relation to 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
        Transfer of Land Act 1958 relating to that land; or

   (ii) registered under the Property Law Act 1958;

   (b)  a charge-

   (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 Law Act 1958;

trees means trees, shrubs, bushes, seedlings, saplings and reshoots, whether
alive or dead.

(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 dioxide from the atmosphere.