The Threatened Species Conservation (Biodiversity Banking) Regulation 2008

The Biodiversity Offsets Scheme under the Biodiversity Conservation Act 2016 commenced on 25 August 2017 visit Biodiversity Offset Scheme.

The information on this page only remains relevant for savings and transitional arrangements under former legislation and policy. Visit Biodiversity Offset Scheme Transitional Arrangements for more information.

The Threatened Species Conservation (Biodiversity Banking) Regulation 2008 relates to some specific aspects of the scheme which are important for its smooth operation.

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.
Page last updated: 28 August 2017