(1)  The Minister on behalf of the Crown may enter into a conservation covenant with an affected owner who applies for compensation under this Division.

(2)  Divisions 2 and 5 have the same application to a conservation covenant entered into under this Division, and any variation or discharge of such a covenant, as they have to any other conservation covenant entered into under this Part.

(3)  If the Minister and an affected owner fail to agree on the provisions of a conservation covenant within 6 months of commencing negotiations on the covenant, the provisions are to be determined by an arbitrator in accordance with the Commercial Arbitration Act 2011 .

(4)  The determination of an arbitrator under subsection (3) is final and binding on the Minister and the affected owner.