sec.203Operation and purpose of pt 4

### sec.203 Operation and purpose of pt 4 This part empowers the Minister to require, from time to time, a geothermal tenure holder or a person who has applied for a geothermal tenure to give the State security for the tenure or proposed tenure. The security may be used to pay— any liability under this Act the State incurs because of an act or omission of the holder; and any unpaid annual rent payable by the holder to the State; and other unpaid amounts payable under this Act by the holder to the State, including, for example, any of the following— an unpaid civil penalty; unpaid interest on unpaid annual rent; any debt payable by the holder under section 352 ; and for a geothermal tenure that is a geothermal lease—unpaid rates and charges, including unpaid interest on overdue rates and charges, payable to the local government in whose area the lease is situated; and any compensation the State must pay under section 309 because of the exercise or purported exercise of remedial powers for the geothermal tenure, whether or not the tenure has ended. s 203 amd 2024 No. 12 s 5 (sec.203-ssec.1) This part empowers the Minister to require, from time to time, a geothermal tenure holder or a person who has applied for a geothermal tenure to give the State security for the tenure or proposed tenure. (sec.203-ssec.2) The security may be used to pay— any liability under this Act the State incurs because of an act or omission of the holder; and any unpaid annual rent payable by the holder to the State; and other unpaid amounts payable under this Act by the holder to the State, including, for example, any of the following— an unpaid civil penalty; unpaid interest on unpaid annual rent; any debt payable by the holder under section 352 ; and for a geothermal tenure that is a geothermal lease—unpaid rates and charges, including unpaid interest on overdue rates and charges, payable to the local government in whose area the lease is situated; and any compensation the State must pay under section 309 because of the exercise or purported exercise of remedial powers for the geothermal tenure, whether or not the tenure has ended. - (a) any liability under this Act the State incurs because of an act or omission of the holder; and - (b) any unpaid annual rent payable by the holder to the State; and - (c) other unpaid amounts payable under this Act by the holder to the State, including, for example, any of the following— (i) an unpaid civil penalty; (ii) unpaid interest on unpaid annual rent; (iii) any debt payable by the holder under section 352 ; and - (i) an unpaid civil penalty; - (ii) unpaid interest on unpaid annual rent; - (iii) any debt payable by the holder under section 352 ; and - (d) for a geothermal tenure that is a geothermal lease—unpaid rates and charges, including unpaid interest on overdue rates and charges, payable to the local government in whose area the lease is situated; and - (e) any compensation the State must pay under section 309 because of the exercise or purported exercise of remedial powers for the geothermal tenure, whether or not the tenure has ended. - (i) an unpaid civil penalty; - (ii) unpaid interest on unpaid annual rent; - (iii) any debt payable by the holder under section 352 ; and