Review
117AX Review
(1) A petroleum infrastructure decommissioning security must be reviewed:
if an approved plan relevant to the security is revised; or
(b) if there is a material change in an estimate of petroleum reserves in a relevant field management plan or other plan or report under this Act; or
if required by the Minister.
(2) An interest holder must review the petroleum infrastructure decommissioning security in accordance with any requirements specified by the Minister by written notice to the interest holder.
(3) The Minister may require that a security be varied or substituted, or that a new security be provided, after the completion of a review.
This Act’s bill:Second reading speech
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