New South Wales Consolidated Acts

CONVEYANCING ACT 1919 - SECT 88AB

88AB Forestry rights to be deemed to be profits à prendre

(1) A forestry right shall, for all purposes, be deemed to be a profit à prendre.

(2) If a forestry right consists in whole or in part of a carbon sequestration right, the profit à prendre deemed to exist by subsection (1) in relation to the carbon sequestration right consists of the following--

(a) the profit from the land is taken to be the legal, commercial or other benefit (whether present or future) of carbon sequestration by any existing or future tree or forest on the land that is the subject of the carbon sequestration right,

(b) the right to take something from the land is taken to be the right to the benefit conferred by the carbon sequestration right.