Use of bond or security deposit to repair or rectify
414 Use of bond or security deposit to repair or rectify
This section applies if—
under a condition of the investigator’s authority, a bond or security deposit is required to be lodged with the chief executive; and
an affected person for the land gives a rectification or compensation notice within the prescribed time; and
the chief executive is satisfied the damage or loss has not been repaired or rectified or compensation agreed or awarded for the damage or loss has not been paid to the affected person.
The chief executive—
may use the bond or security deposit to repair or rectify the damage or loss or pay the compensation; and
must pay the balance, if any, to the investigator.
In this section—
prescribed time, for giving a rectification or compensation notice arising out of the entry of land by the investigator, means 1 year after the investigator was last on the land under, or purportedly under, the investigator’s authority.
This Act’s bill:Explanatory memorandum
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