Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Regulator and the project proponent for a registered biodiversity project may enter into a written agreement that:
(a) applies to a specified reporting period; and
(b) is for the purpose of providing assurance to the Regulator about the project proponent's compliance with this Act in relation to the project during the reporting period; and
(c) contains one or more assurance measures, where each measure is of a kind prescribed by the rules.
(2) An agreement under subsection (1) is to be known as an alternative assurance agreement .
Civil penalty provision
(3) The project proponent for a registered biodiversity project contravenes this subsection if:
(a) the project proponent enters into an alternative assurance agreement with the Regulator; and
(b) the project proponent does not comply with the alternative assurance agreement.
Civil penalty: 200 penalty units.
(4) The maximum civil penalty for each day that a contravention of subsection (3) continues is 5% of the maximum civil penalty that can be imposed in respect of that contravention.
Note: Subsection (3) is a continuing civil penalty provision under section 93 of the Regulatory Powers Act.