132D
In forceMining security account
Part 7Financial provisions
Division 1AMining security
132D Mining security account
(1)
The Minister must establish a mining security account.
(2)
The account must be a trust account.
(3) The Minister must ensure that an amount of mining security paid in cash (including by cheque) is paid into the mining security account.
(4) An amount may only be paid from the mining security account for one of the following purposes:
(a)
for a payment as a result of a claim under section 132E;
(b)
for a refund of all or any part of the mining security.
This Act’s bill:Explanatory statementSecond reading speech
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