Environmental Protection Act 1994

This section applies in relation to an environmental authority for a resource activity if, before the commencement, the administering authority had not given the holder of the environmental authority a notice under the pre-amended Act, section 296 about the amount and form of financial assurance required under a condition of the environmental authority.

The pre-amended Act, chapter 5, part 12, division 2, subdivision 2 continues to apply in relation to the environmental authority as if the amending Act had not commenced.

Despite subsection (2), the administering authority must—

transfer to the scheme manager any financial assurance for the resource activity that is given in cash to the authority after the commencement; and

take all necessary steps to transfer to the scheme manager any instruments or other forms of financial assurance in relation to the resource activity that are given to the authority after the commencement.