This Act provides for the legal recognition of carbon rights, which are created upon registration and may be transferred separately from the land in respect of which it is registered. The proprietor of a carbon right has the legal and commercial benefits and risks arising from changes to atmosphere that are caused by carbon sequestration and carbon release occurring in or on land in respect of carbon that is registered. The proprietor of a carbon right may enter into a carbon covenant with a person having an interest in any land. The Carbon Covenant requires that person to do or restricts it from doing activities on its land.
Австралия · 2003-06-30