sec.315Power to require a change to financial assurance

### sec.315 Power to require a change to financial assurance The administering authority may, at any time, require the holder of an environmental authority for which financial assurance has been given to change the amount of the financial assurance. Before making the requirement, the administering authority must give written notice to the holder. The notice must— state the details of the proposed requirement; and invite the holder to make written representations about the proposed requirement within a stated period of at least 20 business days after the day the holder is given the notice. The administering authority must, before deciding to make the requirement, consider the representations made by the holder within the stated period. The requirement does not take effect until— the day the holder is given an information notice for the decision; or if the information notice states a later day—the later day. In this section— change , financial assurance, includes to decrease or increase the amount of the financial assurance. financial assurance includes financial assurance given by a holder that has changed because of a requirement previously made under this section. s 315 prev s 315 ins 2000 No. 64 s 6 sub 2002 No. 45 s 12 om 2004 No. 48 s 112 pres s 315 ins 2012 No. 16 s 8 (amd 2013 No. 6 s 50 sch) sub 2018 No. 30 s 173 (sec.315-ssec.1) The administering authority may, at any time, require the holder of an environmental authority for which financial assurance has been given to change the amount of the financial assurance. (sec.315-ssec.2) Before making the requirement, the administering authority must give written notice to the holder. (sec.315-ssec.3) The notice must— state the details of the proposed requirement; and invite the holder to make written representations about the proposed requirement within a stated period of at least 20 business days after the day the holder is given the notice. (sec.315-ssec.4) The administering authority must, before deciding to make the requirement, consider the representations made by the holder within the stated period. (sec.315-ssec.5) The requirement does not take effect until— the day the holder is given an information notice for the decision; or if the information notice states a later day—the later day. (sec.315-ssec.6) In this section— change , financial assurance, includes to decrease or increase the amount of the financial assurance. financial assurance includes financial assurance given by a holder that has changed because of a requirement previously made under this section. - (a) state the details of the proposed requirement; and - (b) invite the holder to make written representations about the proposed requirement within a stated period of at least 20 business days after the day the holder is given the notice. - (a) the day the holder is given an information notice for the decision; or - (b) if the information notice states a later day—the later day.