Nature conservation

Biodiversity Reform

Regulatory Impact Statement: Proposed Threatened Species Conservation (Biodiversity Banking) Regulation 2007

The Biodiversity Banking and Offsets Scheme (or BioBanking) has been established under Part 7A of the Threatened Species Conservation Act 1995. To complete the legal framework, the proposed Threatened Species Conservation (Biodiversity Banking) Regulation 2007 will establish specific aspects of the scheme which are important for its smooth operation.

DECC recently sought community input on the draft regulation and is now taking these views into account as it finalises the regulation and the scheme.

Broadly, the objectives of the BioBanking Regulation are to:

  • increase the administrative consistency, efficiency and transparency of the BioBanking Scheme
  • provide a mechanism for recovering some of the costs associated with running the scheme.

The regulation sets out rules addressing, among other things:

  • minimum review requirements for the assessment methodology
  • lands which are not suitable to become a biobank site
  • people who are 'fit and proper' to establish a biobank site
  • operation of the BioBanking Trust Fund
  • requirements regarding payment into the BioBanking Trust Fund when a biobank site owner sells their credits
  • payment of fees for various stages of participation in the scheme.

DECC recently sought community input on the draft regulation and is now taking these views into account as it finalises the regulation and the scheme.

Download Regulatory Impact Statement: Proposed Threatened Species Conservation (Biodiversity Banking) Regulation 2007: biobankingris07507.pdf (157 kb, requires Adobe Reader)

Download Draft Threatened Species Conservation (Biodiversity Banking) Regulation 2007: biobankingdrftreg.pdf (540 kb)

Page last updated: 27 April 2016