Queensland Consolidated Acts

ENVIRONMENTAL OFFSETS ACT 2014 - SECT 23

23 What is a financial settlement offset

(1) A
"financial settlement offset" is a payment, in relation to delivering an offset condition imposed on an authority, by the authority holder to the department or a local government of an amount required by the administering agency that granted the authority.

(2) The amount of the payment is—

(a) if the administering agency is a local government—an amount up to the amount determined by the local government in accordance with the environmental offsets policy; or

(b) for any other administering agency—an amount determined by the administering agency in accordance with the environmental offsets policy.