Claiming on or realising financial assurance started before the commencement
759 Claiming on or realising financial assurance started before the commencement
This section applies if—
before the commencement, the administering authority gave a written notice under the pre-amended Act, section 299 to an entity who gave a financial assurance; and
on the commencement, the administering authority has not decided whether to make a claim on or realise the financial assurance under the pre-amended Act, section 301.
If the financial assurance was given for an environmental authority for a prescribed ERA, the pre-amended Act, chapter 5, part 12, division 2, subdivision 3 continues to apply in relation to the financial assurance, as if the amending Act had not commenced.
If the financial assurance was given for a small scale mining activity or an environmental authority for a resource activity, the amended Act, chapter 5, part 14, division 3 applies in relation to the financial assurance as if—
the notice were a notice given under section 316E; and
a written representation about the notice given by the entity before the commencement were a representation given under section 316E; and
the financial assurance were a scheme assurance.
This Act’s bill:Explanatory memorandum
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.