sec.51Security for geothermal tenure— Act , s 204

sec.51 Security for geothermal tenure— Act , s 204

For section 204 (2) (a) of the Act , the following forms of security are prescribed— cash, including an electronic funds transfer of cash; an unconditional security issued by a financial institution that— is in favour of the ‘State of Queensland’ and is payable on demand; and has no expiry date; and states the type and number of the geothermal tenure or proposed geothermal tenure; and states the address of the financial institution; and is signed by an officer of the financial institution who has authority to sign the security; a combination of the forms mentioned in paragraphs (a) and (b) . For section 204 (2) (b) of the Act , the following amounts are prescribed— for a geothermal permit or proposed geothermal permit—$14,748; for a geothermal lease or proposed geothermal lease—$43,017. (sec.51-ssec.1) For section 204 (2) (a) of the Act , the following forms of security are prescribed— cash, including an electronic funds transfer of cash; an unconditional security issued by a financial institution that— is in favour of the ‘State of Queensland’ and is payable on demand; and has no expiry date; and states the type and number of the geothermal tenure or proposed geothermal tenure; and states the address of the financial institution; and is signed by an officer of the financial institution who has authority to sign the security; a combination of the forms mentioned in paragraphs (a) and (b) . (sec.51-ssec.2) For section 204 (2) (b) of the Act , the following amounts are prescribed— for a geothermal permit or proposed geothermal permit—$14,748; for a geothermal lease or proposed geothermal lease—$43,017.

• (a) cash, including an electronic funds transfer of cash;
• (b) an unconditional security issued by a financial institution that— (i) is in favour of the ‘State of Queensland’ and is payable on demand; and (ii) has no expiry date; and (iii) states the type and number of the geothermal tenure or proposed geothermal tenure; and (iv) states the address of the financial institution; and (v) is signed by an officer of the financial institution who has authority to sign the security;
• (i) is in favour of the ‘State of Queensland’ and is payable on demand; and
• (ii) has no expiry date; and
• (iii) states the type and number of the geothermal tenure or proposed geothermal tenure; and
• (iv) states the address of the financial institution; and
• (v) is signed by an officer of the financial institution who has authority to sign the security;
• (c) a combination of the forms mentioned in paragraphs (a) and (b) .
• (i) is in favour of the ‘State of Queensland’ and is payable on demand; and
• (ii) has no expiry date; and
• (iii) states the type and number of the geothermal tenure or proposed geothermal tenure; and