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Energy Pipelines Act 1981
18Security
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18 Security
(2) A security given in accordance with a form approved under
section 17(2)(a) by the Minister, although it is not sealed, binds the
person subscribing to it as if it were sealed.
(3) Whenever a security referred to in section 17(2)(a) is put in suit, the
production of the security entitles the Minister, without further proof,
to judgment for the amount claimed, against the person appearing
to have executed the security, unless that person proves:
(a) compliance with conditions of the security;
(b) that the security was not executed by him; or
(c) release or satisfaction.
(4) If it appears to the court, in a suit referred to in subsection (3), that
non-compliance with a condition of a security given under this Act
has occurred, the security shall not be discharged or invalidated,
and the subscriber shall not be released or discharged from liability,
by reason of:
(a) an extension of time or other concession;
(b) consent to, or acquiescence in, a previous non-compliance
with a condition; or
(c) failure to bring suit against the subscriber upon the
occurrence of a previous non-compliance with the condition.
(5) If there are several subscribers to a security referred to in
section 17(2)(a), they are bound, unless the security otherwise
provides, jointly and severally and for the full amount of the
security.
(6) A security referred to in section 17(2)(a) may be sued on for
non-compliance with the conditions of the licence to which the
security relates.