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Contents (1995 - 101)
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Threatened Species Conservation Act 1995 No 101
Current version for 10 March 2017 to date (accessed 27 April 2017 at 05:34)
Part 7A Division 2 Section 127S
127S   Prospecting and mining on biobank sites
(1)  The Minister may, by order published in the Gazette, vary or terminate a biobanking agreement without the consent of the owner of the biobank site if a mining authority or petroleum title is granted in respect of the biobank site and the Minister is of the opinion that the activity authorised by the mining authority or petroleum title:
(a)  will adversely affect any management actions that may be carried out on the land under the biobanking agreement, or
(b)  will adversely affect the biodiversity values protected by the biobanking agreement.
(2)  If the Minister varies or terminates the biobanking agreement under this section, the Minister may, by order in writing to the holder of the mining authority or petroleum title, direct the holder to retire biodiversity credits of a number and class (if any) specified by the Minister within a time specified in the order.
(3)  A direction may be given to a person under subsection (2) only if biodiversity credits have already been created in respect of management actions that were carried out or proposed to be carried out on the biobank site and have been transferred to any person.
(4)  The maximum number of biodiversity credits that the holder of the mining authority or petroleum title may be required to retire under the direction is the number of biodiversity credits that have been created in respect of the biobank site.
(5)  A person must not, without reasonable excuse, fail to comply with a direction under subsection (2).
Maximum penalty: 10,000 penalty units.
(6)  It is not an excuse for a failure to comply with a direction under this section that the person who is the subject of the direction does not, at the time the direction is given, hold a sufficient number of biodiversity credits to comply with the direction.
Note.
 If the person who is the subject of the direction does not hold a sufficient number of credits to comply with the direction, the person may obtain the required number by purchasing them.
(7)  A court that convicts a person of an offence under subsection (5) may, in addition to or in substitution for any pecuniary penalty for the offence, by order direct the person to retire, in accordance with this Part, biodiversity credits of a specified number and class (if applicable) within a time specified in the order and, if the person does not hold sufficient biodiversity credits to comply with the direction, to acquire the necessary biodiversity credits for the purpose of retiring them.
(8)  The owner of a biobank site is not entitled to any compensation as a result of the variation or termination of an agreement under this section.
(9)  Subsection (8) does not affect any right to compensation the owner may have under the Mining Act 1992, the Petroleum (Onshore) Act 1991 or any other legislation in respect of the grant of the mining authority or petroleum title.
(10)  In this section:
conviction includes the making of an order under section 10 of the Crimes (Sentencing Procedure) Act 1999.