sec.205Minister’s power to require additional security

### sec.205 Minister’s power to require additional security The Minister may at any time require a geothermal tenure holder to increase the amount of security given for the tenure. However— if, because of an increase in the prescribed amount under section 204 (2) , the requirement is to increase the total security required to no more than the increased prescribed amount—the requirement must be made by notice to the holder; or if the requirement is to increase the total security required to more than the prescribed amount under section 204 (2) when the requirement is made— subsections (3) to (5) must be complied with before making the requirement; and the requirement does not take effect until the holder is given an information notice about the decision to make the requirement. The Minister must give the holder notice— stating the proposed increased amount of the security for the geothermal tenure; and inviting the holder to make submissions about the proposed increased amount to the Minister within a stated reasonable period. The stated period must end at least 20 business days after the holder is given the notice. The Minister must consider any submissions made by the holder within the stated period. In this section— security given includes security given or increased because of a requirement under subsection (1) . s 205 amd 2012 No. 20 s 125 sch 1 (sec.205-ssec.1) The Minister may at any time require a geothermal tenure holder to increase the amount of security given for the tenure. (sec.205-ssec.2) However— if, because of an increase in the prescribed amount under section 204 (2) , the requirement is to increase the total security required to no more than the increased prescribed amount—the requirement must be made by notice to the holder; or if the requirement is to increase the total security required to more than the prescribed amount under section 204 (2) when the requirement is made— subsections (3) to (5) must be complied with before making the requirement; and the requirement does not take effect until the holder is given an information notice about the decision to make the requirement. (sec.205-ssec.3) The Minister must give the holder notice— stating the proposed increased amount of the security for the geothermal tenure; and inviting the holder to make submissions about the proposed increased amount to the Minister within a stated reasonable period. (sec.205-ssec.4) The stated period must end at least 20 business days after the holder is given the notice. (sec.205-ssec.5) The Minister must consider any submissions made by the holder within the stated period. (sec.205-ssec.6) In this section— security given includes security given or increased because of a requirement under subsection (1) . - (a) if, because of an increase in the prescribed amount under section 204 (2) , the requirement is to increase the total security required to no more than the increased prescribed amount—the requirement must be made by notice to the holder; or - (b) if the requirement is to increase the total security required to more than the prescribed amount under section 204 (2) when the requirement is made— (i) subsections (3) to (5) must be complied with before making the requirement; and (ii) the requirement does not take effect until the holder is given an information notice about the decision to make the requirement. - (i) subsections (3) to (5) must be complied with before making the requirement; and - (ii) the requirement does not take effect until the holder is given an information notice about the decision to make the requirement. - (i) subsections (3) to (5) must be complied with before making the requirement; and - (ii) the requirement does not take effect until the holder is given an information notice about the decision to make the requirement. - (a) stating the proposed increased amount of the security for the geothermal tenure; and - (b) inviting the holder to make submissions about the proposed increased amount to the Minister within a stated reasonable period.