Amount of financial assurance
221 Amount of financial assurance
S. 221 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 the amount of a financial assurance.
In determining the amount of a financial assurance, the Authority must have regard to—
a reasonable estimate of the costs and expenses of remediation or clean up activities for the particular activity; and
any method for calculating the amount of financial assurances published by the Authority; and
if the Authority has required an independent assessment for the purpose of determining the amount of a financial assurance and the independent assessment has been provided within the specified period, the independent assessment.
This Act’s bill:Explanatory memorandumSecond reading speech
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