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Environment Protection Act 2019
309Existing security
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309 Existing security
Any security held under the former Mining Management Act
immediately before the commencement in respect of an existing
mining authorisation is taken on and after the commencement:
(a) to be a mining security held under Part 7, Division 1A in
(i) the deemed mining licence corresponding to that
authorisation; and
(ii) an environmental (mining) licence granted after the
commencement for the mining activity to which the
deemed mining licence relates; and
(b) to form part of the mining security account kept under that
Division; and
(c) in the case of a security in the form of a bank guarantee – to
be an agreement entered into on behalf of the Territory for the
purposes of section 37(a) of the Interpretation Act 1978.