Guidance for transferring and retiring Biodiversity Offsets Scheme credits

There are some important considerations and requirements for submitting application forms for biodiversity credit transfer and retirement from the market.

Legal authority and proof of identity

An application to transfer or retire Biodiversity Offsets Scheme (BOS) credits must be signed by a person/s with appropriate legal authority. The legal authority required to execute an application depends on the category of credit holder or buyer. 

All people acting on behalf of another person, company, incorporated body or statutory body are required to provide evidence of their legal authority to sign the application.

The Authority to sign and proof of identity practice guideline outlines the legal authority required by a person to execute an application to transfer or retire BOS credits and provides examples of evidence of legal authority.

Proof of Identity (POI) is required for an application to transfer or retire BOS credits for each credit holder, credit buyer and any duly authorised representative/s with legal authority to execute an application to transfer or retire BOS credits.

The Authority to sign and proof of identity practice guideline outlines acceptable identity documents required to prove the identity of those party to an application to transfer or retire BOS credits.

The person witnessing proof of identity documents must comply with relevant witnessing legislation and/or codes. This includes not witnessing your own proof of identity if you are a Justice of the Peace or perform witnessing services at Australia Post.

Processing time, steps and notification

The processing time for an application is dependent on complete and accurate information being provided on the relevant application form, particularly proof of identity and authority to sign. If the application is complete, the usual processing time is 3-4 weeks.

If your application is incomplete it will be returned to you with a request for more information or clarification. 

Application forms and fees

You should always use the most recent version of the relevant form online when applying. Instructions for submitting the completed forms are included in the forms.

Read Guidance for applying to transfer or retire BOS credits (PDF 36KB) before starting your application.

Forms

Application to transfer biodiversity credits (DOC 47KB)

Application to retire biodiversity credits (DOC 100KB)

Annotated forms 

Annotated forms are available to provide additional assistance for applicants.

Annotated BOS credit retirement form (PDF 255KB)

Annotated BOS credit transfer form (PDF 312KB)

Note: these application forms don't apply to transfer and retirement of BioBanking credits. Separate forms are available at BioBanking.

The application form to transfer or retire BioBanking credits also applies to credits that have undergone credit equivalence.

Fees

A fee applies to a biodiversity credit transfer or retirement application. Visit Fees   

BOS public credit registers 

Information about the availability of BOS credits, including available credits, transfers, price history and retirements is shown in the BOS Public Registers.

Credit transfer or retirement process

  1. Applicants submit a completed application form and accompanying documentation to BOS Credits
  2. An invoice for the application fee will be raised once forms are reviewed and considered complete. Payment of the application fee must be received and processed before the application can proceed.
  3. If required, the credit owner (seller) must make the relevant payment towards the Total Fund Deposit (TFD) for the biodiversity stewardship site. The Biodiversity Conservation Trust (BCT) will confirm receipt of payment towards the TFD.
  4. When these steps have been fully completed the biodiversity credit transfer or retirement can proceed. 
  5. The transfer or retirement will be processed in the Biodiversity Offset and Agreement Management System (BOAMS). An account will be created for all individuals party to a credit transaction and organisations in this system and account holders will be provided with a copy of the customer identity number for the purposes of any future transactions.
  6. The credit owner will be notified when the transfer or retirement has been approved. The Biodiversity Offset Scheme public registers will be updated to reflect the change in the status of the credits subject to the application and the transfer/retirement will appear on the BOS transactions public register