New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) A landowner who has entered into a forest sink covenant must, within 180 days of that covenant being agreed, submit that covenant to the Registrar-General of Land for registration under the Land Transfer Act 1952.
(2) If a forest sink covenant relates to land for which no computer freehold register has been created, the Registrar-General of Land must create a computer interest register for the covenant if—
(a) there is endorsed on the register a certificate by a licensed cadastral surveyor to the effect that the land to which the covenant relates is within the boundaries of an identified parcel of land; and
(b) the Registrar-General of Land is satisfied that the certificate is correct.
(3) If a forest sink covenant relates to Maori land (within the meaning of section 4 of Te Ture Whenua Maori Act 1993) for which no computer freehold register or provisional register has been created, the Registrar of the Maori Land Court must enter on the memorial schedule of the Title Binder relating to the Maori land a notification of the forest sink covenant.
(4) If, in respect of a forest sink covenant, the Registrar-General of Land receives a submission under subsection (1) or a notice from the Minister under section 67ZG, the Registrar-General of Land must enter in the computer register for the district in which the affected land is located notification of—
(a) that forest sink covenant; or
(b) the variation, cancellation, or termination of that forest sink covenant.
(5) For the purposes of the Land Transfer Act 1952, a forest sink covenant, or an agreement to vary a forest sink covenant, is an instrument that—
(a) may be registered; and
(b) if registered, creates an interest in land that runs with that land.
(6) If a forest sink covenant is registered under the Land Transfer Act 1952, and any provision of that covenant has terminated, or has been varied or cancelled by an agreement,—
(a) the Registrar-General of Land must, if satisfied that the provision has terminated, or has been varied or cancelled, make an entry in the computer register noting that the provision has terminated, or has been varied or cancelled; and
(b) the forest sink covenant takes effect as varied or ceases to have effect (as the case may be).
(7) The landowner must provide the Registrar-General of Land with—
(a) a diagram or an aerial photo that shows the boundaries of the land to which the forest sink covenant applies; and
(b) if required by the Registrar-General of Land, a deposit plan.
(8) A landowner subject to a registered forest sink covenant may, at any time, deposit a plan in accordance with section 167(5) of the Land Transfer Act 1952 and any relevant regulations that,—
(a) with the agreement of the Minister, redefines the boundaries of the land subject to the covenant; and
(b) supercedes any previously submitted diagram or aerial photograph, or any part of any previously submitted diagram or aerial photograph.
(9) If a plan is deposited under section 167 of the Land Transfer Act 1952 with respect to a forest sink covenant, the Registrar-General of Land must, if necessary, endorse, on any relevant computer register, a memorial that indicates that the boundaries of the land subject to the covenant, as defined, have been surveyed.
(10) A forest sink covenant may not be treated as a subdivision of land for the purposes of the Resource Management Act 1991.
Part 3B (comprising sections 67W to 67ZU) was inserted, as from 14 November 2006, by section 31(4) Climate Change Response Amendment Act 2006 (2006 No 59).
