Nature Repair Act 2023 (No. 121, 2023).

The objects of this Act are: (a) to promote the enhancement and protection of biodiversity in native species in Australia; and (b) to contribute to meeting Australia’s international obligations in relation to biodiversity, including the Biodiversity Convention; and (ba) to contribute to meeting Australia’s domestic goal of no new extinctions; and (c) to promote engagement and co‑operation of market participants (including Aboriginal persons and Torres Strait Islanders, governments, the community, landholders and private enterprise) in the enhancement or protection of biodiversity in native species in Australia; and (d) to: (i) support and promote the unique role of Aboriginal persons and Torres Strait Islanders in enhancing and protecting biodiversity in native species in Australia; and (ii) enable the use of the knowledge of Aboriginal persons and Torres Strait Islanders related to biodiversity in native species in Australia, guided by the owners of that knowledge; and (e) to contribute to building a knowledge base, and capacity, related to the enhancement or protection of biodiversity in native species in Australia.
Part 2 regulates the process of registration of biodiversity projects; a biodiversity project is a project, carried out in a particular area, that is designed to enhance or protect biodiversity in native species (whether the effect on biodiversity occurs within or outside the area). Division 2 disciplines application for approval, form of application, withdraw, suspension, etc. Division 3 provides for the registration of a registered biodiversity project to be varied and Division 4 to be cancelled (voluntarily or unilaterally by the Regulator). Division 5 provides for the rules to prescribe certain kinds of biodiversity projects as excluded biodiversity projects, which may not be registered. Division 6 provides for the duration of a permanence period for a registered biodiversity project. Part 3 disciplines multiple project proponents; if there are multiple project proponents for a registered biodiversity project, obligations are imposed on each of the proponents, but may be discharged by any of the proponents. Part 4 requires that each registered biodiversity project must be covered by a methodology determination; Methodology determinations are legislative instruments, made by the Minister, that set out how a registered biodiversity project must be carried out by the proponent. In making a methodology determination the Minister must have regard to: the biodiversity integrity standards (section 57) and to the advice given by the Nature Repair Committee. The following are examples of requirements that may be prescribed by a biodiversity assessment instrument: (a) requirements relating to the measurement or assessment of biodiversity; (b) requirements relating to the measurement or assessment of the enhancement of biodiversity; (c) requirements relating to the measurement or assessment of the protection of biodiversity.
Part 5 regulates biodiversity certificates; a certificate may be issued for a registered biodiversity project, in accordance with the methodology determination that covers the project. After being issued, a biodiversity certificate is recorded on the Register. A biodiversity certificate is personal property, and may be transferred. Part 6 establishes that the Secretary may, on behalf of the Commonwealth, enter into contracts for the purchase by the Commonwealth of biodiversity certificates. Such a contract is to be known as a biodiversity conservation contract. The registration of a biodiversity project may be subject to a condition requiring the project proponent to obtain the consent of the holders of certain interests in land before a biodiversity certificate may be issued (see section 18 and paragraph 70(2)(d)); Part 7 sets out the kinds of interests (eligible interests) that may give rise to such a condition. Part 8 clarifies requirements for individuals and corporations to be eligible as proponent. Part 9 reporting and notification requirements; Part 10 and 11 information requirements and Audit. Other Parts include enforcement, record‑keeping requirements; relinquishment requirements and declaration of biodiversity maintenance area if relinquishment requirements are not complied with; among others. Part 19 establishes the Nature Repair Committee. This Part also sets out the following: (a) the functions of the Committee; (b) the membership of the Committee; (c) the appointment of Committee members; (d) other terms and conditions on which Committee members hold office.