2017-10-13 Special Meeting

SPECIAL MEETING AGENDA   13 OCTOBER 2017




                            Page 25 of 48

SPECIAL MEETING AGENDA                                                                   13 OCTOBER 2017

                        5.2.3   Without limiting the generality of the previous sub-clause the State/ HQP
                                Agreement will:
                                (a)   set out rehabilitation obligations on the part of HQP and will require that
                                      HQP carries out those obligations in accordance with the Rehabilitation
                                      Standard ‘Guidelines For The Management of Conservation Handback
                                      Plantations, 2010’ document for the entire PLA subject to HQP’s
                                      operational requirements and in particular, any Workplace Health and
                                      Safety requirements;
                                (b)   Require that all pine regardless of age will be removed by HQP from the
                                      Pine PLA and Fallow PLA within 5 years regardless of age.
                  5.3   The terms of the State/Council/NPA Agreement are intended to include:
                        5.3.1.  An obligation on Council to pay to the State $1,833,333.00 excluding GST to
                                partly fund the payment to be made by the State to HQP under the HQP
                                Agreement;
                        5.3.2   An obligation on NPA topay:
                                (a)   To the State $500,000.00,excluding GST to partly fund the payment to
                                      be made by the State to HQP under the HQP Agreement;
                                (b) _ To Council. $666,666.00 excluding GST to fund NPA’s remaining agreed
                                      payment to the State, which Council initially paid to the State on NPA’s
                                      behalf, which amount will be payable in tranches at dates to be mutually
                                      agreed and reflected in aseparate deed of funding between Council and
                                      the N PA.
                        5.3.3», A provision confirming that the payments to be made to the State will be held
                                by the State in an interest bearing account with Queensland Treasury
                                Corporation until the payment obligations become unconditional.
                        5.3.4   A provision confirming that the release of the capital components of the
                                payments to be made to the State will be subject to certain conditions being
                                satisfied, including:
                                (a)   at least 90% of the State Forest Area being gazetted as National Park
                                      under the Nature Conservation Act, 2002 (Qid.),and
                                (b)   The area/s of the PLA, which is/are not transferred to National Park being
                                      gazetted as Conservation Park under the Nature Conservation Act 2002
                                      (Qid) with Council as Trustee.

                                                                                                     Page 4

                                                                                               Page 25 of 48