MCU14/0028 Appendix 2 EnvProtAct 1994

Environmental Protection Act 1994
Chapter 5 Environmental authorities and environmentally relevant activities
Part 12 General provisions

[s 292]


Division 2                    Financial assurance

Subdivision 1                 Requiring financial assurance

292        Requirement to give financial assurance for
           environmental authority
          (1)   The administering authority may, by condition of an
                environmental authority, require the holder of the
                environmental authority to give the administering authority
                financial assurance—
                (a)   before the relevant activity is carried out under the
                      environmental authority; and
                (b)   as security for—
                      (i)    compliance with the environmental authority; and
                      (ii) costs or expenses, or likely costs or expenses,
                           mentioned in section 298.
          (2)   However, the administering authority may impose a condition
                requiring a financial assurance to be given only if it is
                satisfied the condition is justified having regard to—
                (a)   the degree of risk of environmental harm being caused,
                      or that might reasonably be expected to be caused, by
                      the relevant activity; and
                (b)   the likelihood of action being required to rehabilitate or
                      restore and protect the environment because of
                      environmental harm being caused by the activity; and
                (c)   the environmental record of the holder.
          (3)   The administering authority may require a financial assurance
                to remain in force until it is satisfied no claim is likely to be
                made on the assurance.




Page 206                                                  Current as at 20 February 2014