Victorian Consolidated Legislation

Greenhouse Gas Geological Sequestration Act 2008 - SECT 7

Objectives

7. Objectives

The objectives of this Act are to encourage and promote greenhouse gas
sequestration operations for the benefit of all Victorians by-

   (a)  encouraging and facilitating greenhouse gas sequestration operations;
        and

   (b)  establishing secure title and an orderly, fair and competitive system
        for granting authorities to encourage greenhouse gas sequestration
        operations; and

   (c)  establishing a legal framework for the regulation of greenhouse gas
        sequestration operations aimed at ensuring that-

   (i)  greenhouse gas sequestration operations are carried out in ways that
        minimise impacts on public health and the environment; and

   (ii) consultation mechanisms are effective and appropriate access to
        information regarding greenhouse gas sequestration operations is
        provided; and

   (iii) land affected by greenhouse gas sequestration operations is
        rehabilitated; and

   (iv) just compensation is paid for the use of private land; and

   (v)  conditions in licences and approvals are enforced; and

   (d)  ensuring that greenhouse gas sequestration operations are conducted in
        accordance with the principles of sustainable development; and

   (e)  simplifying the planning approval process with respect to greenhouse
        gas sequestration operations; and

   (f)  ensuring that public health and environmental impacts are considered
        in planning for, and the authorisation, operation and decommissioning
        of, greenhouse gas sequestration operations; and

   (g)  enabling the Crown to assume responsibility for ongoing monitoring and
        verification of an underground geological storage formation that has
        been used to permanently store a greenhouse gas substance following
        the surrender or cancellation of an injection and monitoring licence.