Obligation to give final report
374 Obligation to give final report
This section applies if a notice of closure for a resource tenure is given by the holder of the resource tenure under section 372 or 373.
The chief executive must, as soon as practicable after the notice of closure is received, give a notice requiring a final report to be given for the tenure within the reasonable period stated in the notice to—
for a CMA tenure other than a closing CMA tenure—the office as responsible entity for the cumulative management area; or
for a closing CMA tenure or other resource tenure—the holder of the resource tenure.
The chief executive must give a copy of a notice given to the office for a cumulative management area under subsection (2)(a) to each holder of a CMA tenure within the area, other than the holder of a closing CMA tenure.
Subject to section 375, the responsible entity must, within the period stated in the notice given under subsection (2), give the chief executive a final report for the resource tenure that complies with division 4.Maximum penalty—1,665 penalty units.
A final report must be accompanied by a submissions summary under section 383 and the fee prescribed by regulation.
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