sec.316Replenishment of financial assurance

### sec.316 Replenishment of financial assurance This section applies if— under division 3 , all or part of the financial assurance for an environmental authority has been realised; and the environmental authority is still in force. The administering authority must give the holder of the environmental authority a notice— stating how much of the financial assurance has been used; and directing the holder to, within 20 business days after the giving of the notice, replenish the financial assurance to the amount that was held by the administering authority before the financial assurance started to be realised. It is a condition of the environmental authority that the holder must comply with the direction. s 316 ins 2000 No. 64 s 6 amd 2002 No. 45 s 3 (2) sch sub 2003 No. 95 s 17 amd 2007 No. 56 s 16 ; 2009 No. 3 s 461 sub 2012 No. 16 ss 7 – 8 ; 2018 No. 30 s 173 (sec.316-ssec.1) This section applies if— under division 3 , all or part of the financial assurance for an environmental authority has been realised; and the environmental authority is still in force. (sec.316-ssec.2) The administering authority must give the holder of the environmental authority a notice— stating how much of the financial assurance has been used; and directing the holder to, within 20 business days after the giving of the notice, replenish the financial assurance to the amount that was held by the administering authority before the financial assurance started to be realised. (sec.316-ssec.3) It is a condition of the environmental authority that the holder must comply with the direction. - (a) under division 3 , all or part of the financial assurance for an environmental authority has been realised; and - (b) the environmental authority is still in force. - (a) stating how much of the financial assurance has been used; and - (b) directing the holder to, within 20 business days after the giving of the notice, replenish the financial assurance to the amount that was held by the administering authority before the financial assurance started to be realised.