Enforcement of financial assurance
234 Enforcement of financial assurance
S. 234 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).
A person must not refuse or fail to do any of the following within the specified period—
provide a financial assurance;
provide a further amount as a financial assurance following amendment by the Authority;
replenish the amount of a financial assurance consequent to a claim on the financial assurance.
If a person refuses or fails to fulfil a requirement specified in subsection (1) when it is due, the Authority may—
suspend a permission issued or granted with a condition requiring the holder of the permission to provide a financial assurance, until the person fulfils the requirement; or
issue a prohibition notice in relation to the particular activity for which the financial assurance is provided.
This Act’s bill:Explanatory memorandumSecond reading speech
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