Selasa, April 18, 2023

Value Calculations for Land Resulting from Reclamation Work Introduced

The Minister of Marine Affairs and Fisheries ("Minister") has issued Regulation No. 14 of 2023 on Procedures for the Value Calculations for Land Resulting from Reclamation Work ("Land Values"), which has been in force since 3 April 2023.
Land Values should be calculated based on the following values: 1) Establishment of re-claimed land (i.e. should be calculated from various activity costs, including: hoarding and material compaction, groundwater reparation, embankment construction and installment of: geotextiles, silt barricades and precasts [pod]); and 2) Affected ecosystems (i.e. mangroves, coral reefs, seagrasses and/or fish populations. Details of the Land Value calculations are comprehensively elaborated upon under Appendices I – II to the Regulation.
Business actors are required to submit permit applications for the implementation of reclamation work along with the relevant budgetary and cost plan documents to the Minister.

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The Minister of Marine Affairs and Fisheries ("Minister") has issued Regulation No. 14 of 2023 on Procedures for the Value Calculations for Land Resulting from Reclamation Work ("Land Values"), which has been in force since 3 April 2023.
Land Values should be calculated based on the following values: 1) Establishment of re-claimed land (i.e. should be calculated from various activity costs, including: hoarding and material compaction, groundwater reparation, embankment construction and installment of: geotextiles, silt barricades and precasts [pod]); and 2) Affected ecosystems (i.e. mangroves, coral reefs, seagrasses and/or fish populations. Details of the Land Value calculations are comprehensively elaborated upon under Appendices I – II to the Regulation.
Business actors are required to submit permit applications for the implementation of reclamation work along with the relevant budgetary and cost plan documents to the Minister.

......

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