Environmental Protection Act 1994

The administering authority must decide the amount and form of financial assurance required under a condition of an environmental authority.

The decision must be made within—

10 business days after the application made under section 309 is received by the administering authority; or

if a longer period is agreed to by the holder—the longer period.

In making the decision, the administering authority must have regard to the financial assurance guideline.

Despite subsections (1) and (3), the administering authority can not require financial assurance of an amount that exceeds the amount representing the total likely costs and expenses that may be incurred in carrying out rehabilitation of, or to restore and protect, the environment because of environmental harm that may be caused by the prescribed ERA.

In this section—costs and expenses includes costs and expenses for monitoring and maintenance.