sec.699Existing financial assurance requirement

### sec.699 Existing financial assurance requirement This section applies if, before the commencement, the administering authority required— the giving of financial assurance under former section 312O(2) or 312P(1)(a); or a change to financial assurance under former section 312P(1)(b). From the commencement, the requirement continues to apply. The holder of an environmental authority to which a requirement applies must not carry out the relevant activity under the environmental authority until the financial assurance is given. Maximum penalty—4,500 penalty units. The administering authority may amend the environmental authority to which the requirement applies to impose a condition about the financial assurance. The administering authority must give written notice of the amendment to the environmental authority holder. s 699 ins 2012 No. 16 s 60 amd 2014 No. 59 s 106 (sec.699-ssec.1) This section applies if, before the commencement, the administering authority required— the giving of financial assurance under former section 312O(2) or 312P(1)(a); or a change to financial assurance under former section 312P(1)(b). (sec.699-ssec.2) From the commencement, the requirement continues to apply. (sec.699-ssec.3) The holder of an environmental authority to which a requirement applies must not carry out the relevant activity under the environmental authority until the financial assurance is given. Maximum penalty—4,500 penalty units. (sec.699-ssec.4) The administering authority may amend the environmental authority to which the requirement applies to impose a condition about the financial assurance. (sec.699-ssec.5) The administering authority must give written notice of the amendment to the environmental authority holder. - (a) the giving of financial assurance under former section 312O(2) or 312P(1)(a); or - (b) a change to financial assurance under former section 312P(1)(b).