Buying and retiring biodiversity Biodiversity Offsets Scheme (BOS) credits can offset a biodiversity obligation applying to a development or vegetation clearing. Credits may also be voluntarily retired to improve environmental outcomes.
Retired credits are removed from the market and can no longer be traded.
Accurate submission and approval of an application to transfer BOS credits results in a legally binding transaction of credit ownership from seller to buyer.
The market determines the amount paid for each credit. The landowner and credit purchaser are free to negotiate a price, as long as the total fund deposit requirements are met. Total fund deposits allow for long-term management of biodiversity stewardship sites.
BOS public registers
The BOS public registers support the operation of the BOS credit market by helping to connect credit buyers and sellers while increasing market transparency.
The public registers provide information about BOS credits, obligations and transactions created under the provisions of the Biodiversity Conservation Act 2016 and the Biodiversity Conservation Regulation 2017.
Authority to sign and proof of identity
The applicant’s authority to sign and proof of identity is required for Biodiversity Offsets Scheme (BOS) transaction applications.
Read the Authority to sign and proof of identity practice guideline for more information about legal authority to sign and the documents required to prove the identity of the applicant.
Transferring and retiring BOS credits
Instructions for submission are included in the forms. Applications to transfer or retire BOS credits must be accompanied by the relevant fee. Visit Scheme fees.
Note: These application forms don't apply to transfer and retirement of BioBanking credits. For Biobanking transactions visit Biobanking page.
Annotated forms are available to help applicants understand the requirements before lodging an application. These forms have been marked up with instructions for when and how certain parts of the form need to be completed and clarify the information that needs to be included.
- Annotated BOS Credit retirement form (PDF 237KB)
- Annotated BOS Credit transfer form (PDF 277KB)
- Annotated Biodiversity Offsets Scheme – change of designated contact person or authorised representative for public register form (PDF 198KB)
For more information about processing forms and guidance for applying to transfer or retire BOS credits visit Transferring and retiring BOS credits.
Change of contact details on the public register
Credit holders (credit owners) need to apply to change the designated contact person or authorised representative on the BOS public register to take enquiries in relation to your biodiversity credits and credit transactions.
The person listed as a designated contact on the BOS public register must be the credit holder or someone who is authorised to act on behalf of a credit holder.
Timeframe for processing BOS credit transfers and retirement
The usual timeframe to process an application to transfer or retire BOS credits is approximately 3 weeks. Submitting an incomplete application will delay the processing time.
This timeframe allows the Department to review the application, request and review any additional information and for payment towards the Total Fund Deposit and for the application fee to be received.
The time taken to process an application may vary depending on how long it takes to receive additional information or there are unexpected circumstances.