MCU14/0028 Appendix 2 EnvProtAct 1994

                                                       Environmental Protection Act 1994
                                    Chapter 13 Savings, transitional and related provisions
         Part 2 Transitional provisions for Environmental Protection and Other Legislation
                                                                     Amendment Act 2000
                                                                                  [s 616J]

        (6)   The form of each security given or required to be given for a
              relevant mining lease is taken to be the form of the financial
              assurance for the lease decided under section 364(3).
        (7)   However, the financial assurance for the relevant mining lease
              is taken to have been given for valuable consideration and any
              instrument granting it is taken to have been executed as a deed
              under seal by each party to the instrument.
        (8)   The amount of financial assurance for each relevant mining
              lease is taken to have been decided under section 364(3) as the
              lesser of the following—
              (a)    the amount of security given or required for each
                     relevant mining lease;
              (b)    any amount the administering authority decides would
                     have been the amount under section 364(3) for the
                     financial assurance had the amount been decided on the
                     commencement.
        (9)   Section 365 and chapter 11, part 3 do not apply to financial
              assurance under this section or to a decision under subsection
              (8)(b).

616J     Effect of financial assurance on security
        (1)   The financial assurance condition under section 616I only
              affects a security to the extent provided under that section.
        (2)   Without limiting subsection (1), section 616I does not affect
              or change—
              (a)    the security as a security under the Mineral Resources
                     Act or a special agreement Act; or
              (b)    the matters for which the security was given under the
                     Mineral Resources Act or special agreement Act; or
              (c)    the enforcement of the security under the Mineral
                     Resources Act or special agreement Act.
        (3)   Section 616I, or any thing done under it, does not—
              (a)    discharge a security; or
Current as at 20 February 2014                                                   Page 517