Victorian Consolidated Legislation

Forestry Rights Act 1996 - SECT 5

Agreement creating forest property right

5. Agreement creating forest property right



(1) An owner of land may enter into an agreement with a person-

   (a)  to grant to that person a right to-

   (i)  plant, maintain and harvest forest property on that land; or

   (ii) maintain and harvest forest property planted on that land or derived
        from forest property planted on that land; and

   (ab) to grant to that person a carbon sequestration right in relation to
        forest property on that land; and

   (b)  to vest the ownership of the forest property in that person; and

   (c)  subject to the agreement, to permit the person-

   (i)  to enter the land which is subject to the agreement; and

   (ii) to carry out any works which are necessary for the purposes of
        planting, maintaining or harvesting the forest property; and

   (iii) to monitor and measure carbon sequestered by trees on that land.

(2) An owner of land must not enter into a forest 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 holder of the registered mortgage
or charge that it is proposed to enter into the agreement.