Discharge of security under section 96A on provision of insurance
4 Discharge of security under section 96A on provision of insurance
Where—
a permit, lease, licence or pipeline licence was in force immediately before the commencement of the amending Act; and
the Minister has, after the commencement of the amending Act, required the holder to maintain insurance under section 96A(1); and
the Minister is satisfied that the required insurance is in effect, the Minister must issue a certificate that he or she is so satisfied.
Where the Minister issues a certificate under subclause (1), any security in force in relation to the permit, lease, licence or pipeline licence, being a security that was required under this Act before the commencement of the amending Act, is discharged.
The discharge of a security under subclause (2) has no effect on any liability arising under or in relation to the security before its discharge.
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