CARBON RIGHTS ACT 2003 - SECT 11
CARBON RIGHTS ACT 2003 - SECT 11
11 . Registration of carbon covenant form to create carbon covenant
(1) A person may lodge
with the Registrar, for registration, a form for the creation of a carbon
covenant.
(2) A carbon covenant
form cannot be registered unless —
(a) it
is in a form approved by the Registrar;
(b) it
contains a statement that it is for the creation of a carbon covenant under
this Act;
(c) it
contains a description of the carbon right in relation to which the proposed
carbon covenant is to be created;
(d) it
contains the land description for the land to be burdened by the proposed
carbon covenant;
(e) it
identifies, if the proposed carbon covenant is to be in respect of part only
of the land referred to in paragraph (d), by way of words or a sketch, the
part of the land that is the subject of the proposed carbon covenant;
(f) it
contains the terms of the right, obligation or restriction that is the subject
of the proposed carbon covenant;
(g) the
proprietor of the proposed carbon covenant will be the proprietor of the
relevant carbon right;
(h) it
specifies —
(i)
the day on which the proposed carbon covenant is to
commence, which cannot be before the day the relevant carbon right is created;
and
(ii)
the term of the proposed carbon covenant, which cannot be
longer than the term of the relevant carbon right;
(i)
it contains such other information as is prescribed by
the regulations; and
(j)
there is compliance with section 104G of the TLA.