72Permits—financial assurance conditions

72 Permits—financial assurance conditions (1) The director-general may impose a condition on a biosecurity permit requiring the permit-holder to provide a financial assurance (a financial assurance condition) for anything required as a result of any of the following events (a secured event): (a) the permit-holder failing to comply with another condition on their permit; (b) the permit-holder giving any biosecurity matter that their permit authorises them to deal with, to the director-general;

(c) the permit-holder engaging in conduct that they are not authorised by the permit to engage in; (d) the permit-holder no longer being authorised to engage in the conduct authorised by the permit; (e) the permit-holder being unable, for any reason, to continue to engage in the conduct authorised by the permit. (2) A financial assurance condition may require the permit-holder to provide evidence of the financial assurance to the director-general. (3) A financial assurance condition may require financial assurance in 1 or more of the following forms: (a) a bank guarantee; (b) a bond; (c) an insurance policy; (d) a form prescribed by regulation; (e) any other form the director-general considers appropriate. (4) A financial assurance condition may provide for the following (a) how the amount of financial assurance is to be worked out; (b) the circumstances in which the financial assurance may be claimed or realised, and the procedure for claiming or realising the financial assurance; (c) actions that may be taken after a secured event, including— (i) when stated actions may be taken by the director-general; and (ii) when the director-general may enter premises to take stated actions; (d) when stated information must be provided;

(e) auditing of actions that may result in the financial assurance being claimed or realised; (f) the administration of the financial assurance; (g) the release of the financial assurance. (5) A financial assurance may be claimed and realised, despite and without affecting— (a) any liability of the permit-holder for any penalty for an offence for a failure to comply to which the assurance relates; and (b) any other action that may be taken, or is required to be taken, in relation to any failure to comply or other circumstance to which the assurance relates.