This Regulation implements the Threatened Species Conservation Act 1995 by providing for the administration of the biobanking scheme established by Part 7A of the Act. The Regulation makes provision for the following matters: (a) requiring the biobanking assessment methodology to identify areas of high biodiversity conservation value and to restrict the circumstances in which a biobanking statement may be issued in respect of development having an impact on those areas, (b) requiring the review of the biobanking assessment methodology 2 years after publication and every 5 years thereafter, (c) prescribing the circumstances in which the biobanking assessment methodology can be amended, repealed or replaced, (d) excluding certain types of land from being designated as a biobank site, (e) matters that the Minister is to consider before entering into a biobanking agreement, (f) the procedure for requesting the Minister to enter into, vary or terminate a biobanking agreement (including the fees involved), (g) the procedure for applying to retire a biodiversity credit, (h) contributions to cost recovery by holders of biodiversity credits and applicants for a biobanking statement, (i) additional grounds for refusal to issue a biobanking statement, (j) payments to the Biobanking Trust Fund on a first transfer of biodiversity credits, (k) payments from that Biobanking Trust Fund to owners of biobank sites for or towards the management costs of the biobank site, (l) other matters relating to the management of the Biobanking Trust Fund, (m) registers to be kept under the Act, and (n) calculation of fees and contributions under the Act.