Payment may be required for residual risks
271 Payment may be required for residual risks
This section applies for a surrender application for an environmental authority for a resource activity.
The administering authority may, by written notice, require the applicant to pay the administering authority, or another entity that performs functions under this Act, a stated amount, within 6 months after the day the notice is given, for the residual risks of land the subject of the surrender application.
Example of another entity—
the scheme manager under the Mineral and Energy Resources (Financial Provisioning) Act 2018
A requirement under subsection (2) is a residual risks requirement.
If a progressive certification has previously been given for a relevant tenure for the environmental authority, the administering authority must, in deciding to require the payment, confirm that the area of the relevant tenure still meets the criteria under section 318ZI against which it was certified.
This Act’s bill:Explanatory memorandum
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