Document ID: chunk:federal_register_of_legislation:C2024C00514:section:34:p1
Version: federal_register_of_legislation:C2024C00514
Segment Type: section
Provision Reference: s 34 (pt 1/2)
Character Range: 86257–89057

34  Permanence period
 (1) Subject to subsection (2), the permanence period of a registered biodiversity project must be:
 (a) a type A permanence period; or
 (b) a type B permanence period; or
 (c) a type C permanence period.
Note: The permanence period of a registered biodiversity project may be varied under rules made for the purposes of subsection 20(1).
 (2) A methodology determination that covers a particular kind of registered biodiversity project may provide that the permanence period for biodiversity projects of that kind must be a type C permanence period.

Type A permanence period
 (3) The type A permanence period for a registered biodiversity project:
 (a) begins when the approval of the registration of the project takes effect; and
 (b) ends at the end of the 25‑year period that began when the approval of the registration of the project takes effect.

Type B permanence period
 (4) The type B permanence period for a registered biodiversity project:
 (a) begins when the approval of the registration of the project takes effect; and
 (b) ends at the end of the 100‑year period that began when the approval of the registration of the project takes effect.

Type C permanence period
 (5) The type C permanence period for the registered biodiversity project:
 (a) begins when the approval of the registration of the project takes effect; and
 (b) ends at the end of the period ascertained in accordance with the methodology determination that covers the project.

Extension of permanence period
 (6) The Regulator may extend the permanence period for a registered biodiversity project if the Regulator is satisfied that:
 (a) there has been a significant reversal of the biodiversity outcome to which the project relates; and
 (b) the extension is necessary to:
 (i) restore the biodiversity outcome; or
 (ii) mitigate the reversal.
Note: For review of decisions, see Part 20.
 (7) The Regulator may extend the permanence period for a registered biodiversity project if:
 (a) the project proponent for the project requests the extension; and
 (b) the Regulator is satisfied that:
 (i) the biodiversity outcome to which the project relates has not been achieved; and
 (ii) the extension is necessary for the biodiversity outcome to be achieved.
Note: For review of decisions, see Part 20.

Request for extension of permanence period
 (8) A request under paragraph (7)(a) must:
 (a) be in writing; and
 (b) be in a form approved, in writing, by the Regulator.
 (9) The Regulator must take all reasonable steps to ensure that a decision is made on the request within 30 days after the request was made.

Notification of extension of permanence period
 (10) If the Regulator extends the permanence period for a registered biodiversity project, the Regulator must take all reasonable