New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) A landowner may, after 1 January 2009, submit a request to the Secretary to receive units.
(2) A landowner may only make 1 request under subclause (1) per calendar year.
(3) To receive units in relation to the first commitment period, a landowner must submit a request to the Secretary to receive units by 31 March 2013.
(4) If a landowner makes a request under subclause (1) or (3), and is entitled to receive units, the Secretary must arrange for the transfer of the units to the landowner's holding account in the Registry.
(5) Subclauses (1) to (4) are subject to the terms of the relevant forest sink covenant.
(6) A landowner may only make a request under subclause (1) or (3) if the Minister has entered into the relevant forest sink covenant.
