This Act is administered by the Ministry for the Environment.
1 Title
2 Commencement
3 Principal Act amended
Part 1Amendments to principal Act
4 Purpose
5 Interpretation
6 Minister of Finance may give directions to Registrar regarding accounts and units
7 New section 8A inserted
8A Minister of Finance must publish directions
8 Minister of Finance may obtain information from inventory agency and Registrar
9 Purpose of Registry
10 New section 13 substituted
13 Registrar may refuse access to, or suspend operation of, Registry
11 Registrar must give effect to directions
12 New section 16 substituted
16 Carry-over of units
13 Form and content of unit register
14 New sections 18A to 18E inserted
18A Opening holding accounts
18B Closing holding accounts
18C Transfer of units
18D Succession
18E Trusts, representatives, and assignees of bankrupts
15 Transactions must be registered
16 Registration procedure
17 New sections 21A and 21B inserted
21A Electronic registration
21B Defective applications
18 Receiving units from overseas registries
19 Priority of registration
20 New section 25 substituted
25 Correction of unit register
21 Unit register must be open for search
22 Information accessible by search
23 New sections 28 and 29 substituted
28 Search of unit register
29 Printed search result receivable as evidence
24 New sections 30A to 30D and heading inserted
30A Crown or Registrar not liable in relation to searches in certain cases
Expiry of long-term certified emission reduction units and temporary certified emission reduction units
30B Expiry of long-term certified emission reduction units
30C Replacement of certain long-term certified emission reduction units
30D Expiry of temporary certified emission reduction units
25 Primary functions of inventory agency
26 Inventory agency under direction of Minister responsible for inventory agency
27 New section 35 substituted
35 Publication
28 New section 48A inserted
48A Providing false or misleading information to Registrar
29 Regulations
30 Incorporation by reference
Part 2Amendments to other Acts
31 Amendments to Forests Act 1949
Part 3BMechanism allowing landowners to access value created by Kyoto Protocol of carbon sequestration on land through establishment of forest sink covenants
67W Purpose of Part
67X Interpretation of Part
Subpart 1—Forest sink covenants
67Y Regulation-making powers for forest sink covenants
67Z Content of forest sink covenants
67ZA Landowner must obtain written consent of interested persons to enter into, vary, or cancel forest sink covenants
67ZB Nothing in Part makes Crown liable
67ZC Section 126G of Property Law Act 1952 does not apply to forest sink covenants
67ZD Registrar-General of Land to register forest sink covenants
67ZE The Crown may register charges with respect to land subject to forest sink covenants in certain circumstances
67ZF Liability to the Crown of persons who have or had landholding subject to registered forest sink covenants
67ZG Minister must give notice to Registrar-General of Land if forest sink covenants are varied, cancelled, or terminated
Subpart 2—Cost recovery
67ZH Principles of cost recovery
67ZI Methods of cost recovery
67ZJ Cost recovery to relate generally to financial year
67ZK Minister may review levels and methods of cost recovery
67ZL Fees and charges to be prescribed by regulations
67ZM Levies
67ZN Contents of levy order
67ZO Trust accounts required to be kept by persons collecting levies
67ZP Exemptions, waivers, and refunds
67ZQ Fees, levies, and charges to constitute debt due to Secretary
67ZR Penalties for failure to pay fee, levy, or charge
67ZS Obligation to pay fee, levy, charge, or penalty not suspended by dispute
67ZT Levy orders to be confirmed
67ZU Relationship of Part with Resource Management Act 1991
32 Amendments to Forestry Rights Registration Act 1983
33 Consequential amendment to Privacy Act 1993
Legislative history
The Parliament of New Zealand enacts as follows: