Introduces criminal penalties of up to 5 years imprisonment for intentional and repeated breaches of the primary obligation

Extends the existing sunset clause by three years, from 2024 to 2027, pending a statutory review to be tabled in both chambers

Requires the minister to table an annual report on the operation of the scheme in each house of parliament by 31 March each year

Repeals sections 14 through 22 of the existing Act, replacing them with a streamlined single-stage approval process administered by the department