Environmental Protection Act 1994

This section applies if—

before the commencement, the holder of an environmental authority applied to amend or discharge a financial assurance under the pre-amended Act, section 302; and

on the commencement, the application has not been decided.

The pre-amended Act, chapter 5, part 12, division 2, subdivision 4 continues to apply in relation to the financial assurance.

Despite subsection (2), the administering authority must—

transfer to the scheme manager any financial assurance for the environmental authority 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.