Form of financial assurance
353J Form of financial assurance
A financial assurance may be given in one or more of the following forms—
a bank guarantee,
a bond,
a form of security prescribed by the regulations,
another form of security the court considers appropriate.
The court must not require a financial assurance for an amount that is more than the reasonably estimated cost of carrying out the specified project or activity, including reasonable costs associated with the Regulator supervising the carrying out of the project or activity.
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
- Gumly Gumly Private Irrigation District Board of Management (General) By-law 1997 · Regulation
- Hay Private Irrigation District Board of Management (Water Rights) By-law 1999 · Regulation
- Moira Board of Management (General) By-law 1989 · Regulation
8 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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