MCU14/0028 Appendix 2 EnvProtAct 1994

Environmental Protection Act 1994
Chapter 13 Savings, transitional and related provisions
Part 6 Transitional provisions for Petroleum and Other Legislation Amendment Act 2004

[s 632]

                (b)   the Petroleum Act 1923, section 159 or the Petroleum
                      and Gas (Production and Safety) Act 2004, section 920
                      applies to security held for the petroleum authority.
          (2)   A condition is taken to have, under section 364, been imposed
                on the environmental authority that its holder must give the
                administering authority financial assurance for the
                environmental authority in the amount required to be
                transferred under either section mentioned in subsection
                (1)(b).
          (3)   The amount is taken to also be the financial assurance.
          (4)   The financial assurance is taken to be for the matters
                mentioned in section 364(1) in relation to the environmental
                authority.
          (5)   On the making of the transfer, the requirement under the
                condition to give the financial assurance is taken to have been
                complied with.

632        Financial assurance if security for related petroleum
           authority is non-monetary
          (1)   This section applies to an environmental authority if—
                (a)   under the Petroleum Act 1923 or the Petroleum and Gas
                      (Production and Safety) Act 2004, the environmental
                      authority is the relevant environmental authority for a
                      petroleum authority; and
                (b)   the Petroleum Act 1923, section 160 or the Petroleum
                      and Gas (Production and Safety) Act 2004, section 921
                      applies to security held for the petroleum authority.
          (2)   A condition is taken to have, under section 364, been imposed
                on the environmental authority that its holder must give the
                administering authority financial assurance for the
                environmental authority.
          (3)   The security mentioned in either section mentioned in
                subsection (1)(b) is taken to also be the financial assurance.
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