The Grey-headed Flying-fox was listed in 2001 as a vulnerable species in NSW under the provisions of the Threatened Species Conservation Act 1995. This paper outlines the legal implications which arise from listing a species as vulnerable in NSW. These include legal protection from harm or damage to habitat, the requirement to undertake environmental assessment of any proposed developments which are likely to impact on the species and the requirement to prepare a recovery plan within 5 years. Problems related to the conservation management of the species are discussed and some potential approaches which may be utilised in development of a recovery plan, including key habitat restoration, are considered.