Requirement for security
117AP Requirement for security
The Minister may determine the form of security required in a particular case after taking into account any direction of the Treasurer about acceptable or appropriate securities under this Part.
Examples for subsection (1)
A form of security might be:
(a) a cash bond posted to the Territory Government and held in trust; or
(b) a bank guarantee; or
(c) a surety bond or insurance bond.
The Minister may require that more than one security be provided in a particular case.
Unless otherwise determined by the Minister, a security does not extend to an activity or work that does not require approval under an environment management plan, well operations management plan or petroleum surface infrastructure plan.
Division 2 Environmental securities
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