Forest Property Act 2000 (SA)

South Australia Forest Property Act 2000 An Act to encourage commercial investment in forest property; and for other purposes.

Contents Part 1—Preliminary 1 Short title 3 Interpretation 3A Carbon absorption capacity of the forest vegetation to be a form of property 4 This Act to be read subject to the law of native title Part 2—Forest property agreements 5 Types of forest property agreements 6 Form and content of forest property agreement 7 Registration of forest property agreement 8 Dealing with interest of transferee 9 Enforceability of registered forest property agreement by and against successors in title to the original parties 10 Variation and revocation of forest property agreement 11 Applications for registration 12 Application of relevant registration law 13 Transitional provision for forest property agreements made before the relevant date Part 3—Commercial forest plantation licences 16 Commercial forest plantation licences Part 4—Regulations 17 Regulations Legislative history

The Parliament of South Australia enacts as follows: Part 1—Preliminary 1—Short title This Act may be cited as the Forest Property Act 2000. 3—Interpretation In this Act— carbon right—see section 3A; Court means the Supreme Court or the District Court; encumbrance means— (a) a life estate or a lease; or (b) a mortgage, charge or encumbrance securing a monetary obligation; forest vegetation means trees and other forms of forest vegetation including— (a) roots or other parts of the trees or other forest vegetation that lie beneath the soil; and (b) leaves, branches or other parts or products of trees or other forest vegetation; forest property agreement—see section 5; owner of land means— (a) the owner of an estate in fee simple in the land; or (b) a person who holds a leasehold estate in land from the Crown; registered means— (a) in relation to a forest property agreement relating to land alienated in fee simple from the Crown— (i) if the land has been brought under the Real Property Act 1886—registered under that Act or noted on the certificate of title to the land; or (ii) if the land has not been brought under the Real Property Act 1886—registered under the Registration of Deeds Act 1935; (b) in relation to a forest property agreement relating to land subject to a Crown lease—registered or noted in the Register of Crown Leases; relevant registration law means— (a) in relation to an agreement or transaction registered (or to be registered) under the Real Property Act 1886—the Real Property Act 1886; (b) in relation to an agreement or transaction registered (or to be registered) under the Registration of Deeds Act 1935—the Registration of Deeds Act 1935. 3A—Carbon absorption capacity of the forest vegetation to be a form of property (1) The capacity of forest vegetation to absorb carbon from the atmosphere is a form of property (a carbon right) in the nature of a chose in action. (2) A carbon right attaches to the forest vegetation to which it relates, and ownership of the right passes with ownership of the forest vegetation unless ownership of the right is separated from ownership of the forest vegetation under a forest property agreement. (3) A forest property agreement may relate to carbon rights in respect of the past absorption of carbon from the atmosphere as well as to those in respect of the absorption of carbon from the atmosphere during the currency of the agreement. 4—This Act to be read subject to the law of native title This Act is to be read subject to the law of the Commonwealth and the State relating to native title.