who owns the carbon credits?

If I read this correctly,who ever sells the land or mortgaged it up to the hilt in the beginning,unless they agree to relinquish the carbon credit deal,in this case is it the directors of GTP?,then I am suspicious that who now owns the trees,or the land do not have access to the benefit of carbon credits and that GTP directors still benefit

This I believe apply's in W.A at this point of time,interested on others thoughts


copied from landgate

Carbon Rights, Carbon Covenants and Tree PlantationsLandgate's online shop is currently unavailable. We are working to rectify the issue and will provide an update as soon as possible. Landgate apologises for any inconvenience caused.

The Carbon Rights Act 2003 and the Tree Plantations Agreements Act 2003, together withconsequential amendments to the Transfer of Land Act 1893, were proclaimed on 24 March 2004.

The Carbon Rights Act 2003 provides for the creation of certain interests in land in relation to the effects of carbon sequestration from, and carbon release to, the atmosphere etc.

The Tree Plantation Agreements Act 2003 provides for the making of certain agreements, and for the creation of certain interests in land, in relation to tree plantations etc.

The Acts Amendment (Carbon Rights and Tree Plantation Agreements) Act 2003 - amends the Land Administration Act 1997 (LAA), the Soil and Land Conservation Act 1945, the Taxation Administration Act 2003 and the Transfer of Land Act 1893 in relation to matters arising from the Carbon Rights Act 2003 and Tree Plantation Agreements Act 2003.

The registration of these new interests in land shown on land titles is achieved by consequential amendments to the TLA of which the following are the most notable:

Carbon Right interests in land, Carbon Covenant interests in land and Plantation interests in land by the registration of an “Instrument”, in the “approved form” pursuant to the TLA. It is to be noted that such interest in land may also be created on the registration of a Deed under the Registration of Deeds Act:
The term “Proprietor” in the TLA has been amended to include the holder of Carbon Right, Carbon Covenant or Plantation interests in land.

Carbon Right, Carbon Covenant or Plantation interests in land will not be removed from title on mortgagees power of sale of the land under section 110 of TLA because any prior registered mortgagee must consent to the creating of such interests in land. This is further reinforced by the consequential amendments to section 129A (1) of TLA.

A caveat may be lodged by a person claiming Carbon Right, Carbon Covenant or Plantation interests in land under section 137 of TLA.

Related Links
Freehold Land Registration Forms
Plan Requirements (PDF - 1.3mb)