Tree bond amount—Act, s 93 (5) (a)

In force

(1)

The amount of a tree bond is—

(a)

for a registered tree—the greater of—

(i)

$3 000; and

(ii)

3 times the value of the tree; and

(b)

for any other tree—the amount decided by the decision-maker.

(2)

For subsection (1) (b), the amount must be—

(a)

at least—

(i)

$3 000; or

(ii)

if the value of the tree is more than $3 000—the value of the tree; but

(b)

not more than 3 times the value of the tree.

(3)

The value of a tree is worked out as follows:

AG—see section 7 (1).

AL—see section 7 (1).

RC—see section 7 (1).

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