CARBON RIGHTS ACT 2003 - SECT 8

CARBON RIGHTS ACT 2003 - SECT 8

8 .         Carbon rights: consequences of ownership and other legal effects

        (1)         A proprietor of a carbon right has the legal and commercial benefits and risks arising from changes to the atmosphere that are caused by carbon sequestration and carbon release occurring in or on land in respect of which the carbon right is registered.

        (2)         A carbon right —

            (a)         does not confer any right of possession; and

            (b)         is not a subdivision of land to which section 135 of the Planning and Development Act 2005 applies.

        [Section 8 amended: No. 38 of 2005 s. 15.]