Greenhouse Gas Storage Act 2009
sec.276Security not affected by change in authority holder
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sec.276 Security not affected by change in authority holder
This section applies if security for a GHG authority has been given under this part for the authority and its holder changes. Despite the change, the security and any interest that accrues on it continues in force for the benefit of the State and may be used under section 274 . If the security is in the form of money, until the security is replaced or refunded it continues in force for the holder from time to time of the GHG authority. (sec.276-ssec.1) This section applies if security for a GHG authority has been given under this part for the authority and its holder changes. (sec.276-ssec.2) Despite the change, the security and any interest that accrues on it continues in force for the benefit of the State and may be used under section 274 . (sec.276-ssec.3) If the security is in the form of money, until the security is replaced or refunded it continues in force for the holder from time to time of the GHG authority.