Greenhouse Gas Storage Regulation 2021
sec.33Security for GHG authorities
Start here
Get a plain-English read of sec.33
Turn the raw legal text into a practical explanation grounded in Greenhouse Gas Storage Regulation 2021.
sec.33 Security for GHG authorities
For section 271 (2) (a) of the Act , the following forms of security are prescribed— cash; electronic transfer of funds; 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 day; and states the type and number of the GHG authority or proposed GHG authority; and states the address of the financial institution; and is signed for the financial institution by an officer who has authority to sign the security; a combination of the forms mentioned in paragraphs (a) to (c) . For section 271 (2) (b) of the Act , the following amounts are prescribed— for a GHG permit or proposed GHG permit—$16,350; for a GHG lease or proposed GHG lease—$47,690; for a GHG data acquisition authority or proposed GHG data acquisition authority—$14,305. s 33 amd 2022 SL No. 47 s 10 ; 2025 SL No. 48 s 6 (sec.33-ssec.1) For section 271 (2) (a) of the Act , the following forms of security are prescribed— cash; electronic transfer of funds; 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 day; and states the type and number of the GHG authority or proposed GHG authority; and states the address of the financial institution; and is signed for the financial institution by an officer who has authority to sign the security; a combination of the forms mentioned in paragraphs (a) to (c) . (sec.33-ssec.2) For section 271 (2) (b) of the Act , the following amounts are prescribed— for a GHG permit or proposed GHG permit—$16,350; for a GHG lease or proposed GHG lease—$47,690; for a GHG data acquisition authority or proposed GHG data acquisition authority—$14,305.
- (a) cash;
- (b) electronic transfer of funds;
- (c) 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 day; and (iii) states the type and number of the GHG authority or proposed GHG authority; and (iv) states the address of the financial institution; and (v) is signed for the financial institution by an officer 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 day; and
- (iii) states the type and number of the GHG authority or proposed GHG authority; and
- (iv) states the address of the financial institution; and
- (v) is signed for the financial institution by an officer who has authority to sign the security;
- (d) a combination of the forms mentioned in paragraphs (a) to (c) .
- (i) is in favour of the ‘State of Queensland’ and is payable on demand; and