219Authority may require financial assurance

219 Authority may require financial assurance (1) The Authority may require a person undertaking a particular activity to provide a financial assurance if any of the following apply— (a) the Authority determines that provision of a financial assurance by the person is a condition of a prescribed permission; (b) the Authority determines that provision of a financial assurance by the person is a condition of a site management order; (c) the Authority determines that provision of a financial assurance by the person is a condition of an environmental action notice; (d) an Order relating to environmentally hazardous substances requires the person to provide a financial assurance. (2) The Authority may only make a determination under subsection (1)(a),(b) or (c) if the Authority is satisfied, having regard to the prescribed risk assessment criteria, that a financial assurance is necessary as security for the costs and expenses of remediation or clean up in connection with the particular activity. (3) If the Authority requires a person to provide a financial assurance, the Authority must notify the person in writing of the form and amount of the financial assurance. (4) If a person is given notice under subsection (3), the person must provide the financial assurance within a period, not less than 30 business days, to be specified by the Authority. S. 220 inserted by No. 39/2018 s. 7 (as amended by Nos 27/2019 ss 12−30, 3/2020 ss 42–44, 47/2020 s. 26).