Unsold biodiversity credits generated through a BioBanking Agreement under the previous BioBanking Scheme remain valid under the current Biodiversity Offsets Scheme.
BioBanking credits generated under the previous scheme may still be retired against credit obligations assessed under the BioBanking Scheme. However, the department has also developed a process to determine the reasonable equivalence of BioBanking credits with biodiversity credits under the current Biodiversity Offsets Scheme.
When you receive a determination of reasonable credit equivalence, you keep and own the same BioBanking credits, but you have a legal document (determination) that allows you to trade them in the current Biodiversity Offsets Scheme.
For more information refer to Apply for an equivalence assessment for existing – BioBanking credits. There is no fee for this assessment.
To transfer BioBanking credits you must:
Complete the
Application to transfer BioBanking credits (DOC)(303 KB)- Pay the application fee. You will be invoiced the appropriate fee by the department after your application has been reviewed and found to be complete. See Scheme fees.
- Where required, make the relevant payment towards the Total Fund Deposit.
To retire BioBanking credits you must:
Complete the
Application to retire BioBanking credits (DOC)(270.5 KB)- Pay an application fee. You will be invoiced the appropriate fee by the department after your application has been reviewed and found to be complete.
- Where required, make the relevant payment towards the Total Fund Deposit.
If you need help completing these forms, please email [email protected].
Information about credit holdings, transactions, price history and retirements relating to credits created under the previous scheme are displayed in the BioBanking public registers.