Release of bond or security deposit
153Z Release of bond or security deposit
This section applies if, under a condition of an access authority, the holder of the authority lodges a bond or security deposit with the Coordinator-General.
Unless subsection (3) applies, the Coordinator-General may keep the bond or security deposit until 1 year after the access authority expires.
If, before or within 1 year after the access authority expires, the owner of the land entered under the authority gives a notice of damage to, or makes a compensation claim against, the holder of the authority—
the Coordinator-General may keep the bond or security deposit until the damage or loss is rectified or compensation for the damage or loss is paid to the owner; or
if after a reasonable time has passed the Coordinator-General is satisfied the damage or loss has not been rectified and compensation for the damage or loss has not been paid to the owner, the Coordinator-General—
may use the bond or security deposit to rectify the damage or loss or pay compensation to the owner; and
must pay the balance, if any, to the holder of the access authority.
For subsection (3)—
damage or loss is rectified only if the damage or loss is completely rectified; and
compensation for damage or loss is paid to the owner only if the total amount of the compensation is paid to the owner.
In this section—
compensation claim means a claim for compensation under section 153Y.
notice of damage means a notice under section 153X.
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