Form of financial assurance
220 Form of financial assurance
S. 220 inserted by No. 39/2018 s. 7 (as amended by Nos 27/2019 ss 12−30, 3/2020 ss 42–44, 47/2020 s. 26).
Subject to subsection (2), the Authority may determine, having regard to the prescribed risk assessment criteria, the form of a financial assurance.
A financial assurance must be provided in the form of—
a guarantee provided by a body that is permitted to use the expression "bank" under section 66 of the Banking Act 1959 of the Commonwealth; or
bonds; or
any other form of security that the Authority considers appropriate; or
any combination of paragraph (a), (b) or (c).
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.