sec.105Option to elect before relevant anniversary day for particular existing authorities

sec.105 Option to elect before relevant anniversary day for particular existing authorities

This section applies if— immediately before the commencement— an authority was allocated to the risk category of very low, low or moderate; and the annual review process for the authority had not started; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than $100,000 but less than $10m. The scheme manager must, at least 30 business days before the relevant anniversary day for the authority, give the holder a notice stating— that the holder may elect for the authority to be subject to risk category allocation under part 3, division 1; and that the holder may make the election within 20 business days after the notice is given to the holder. The holder may elect for the authority to be subject to risk category allocation under new part 3, division 1 by giving the scheme manager notice of the election within the period mentioned in subsection (2)(b). If the holder gives the scheme manager a notice under subsection (3) within the period mentioned in subsection (2)(b), the scheme manager must give the holder a notice stating— the day the notice is given; and the authority to which the notice relates; and that the authority is subject to risk category allocation under part 3, division 1. A notice given under subsection (4) is taken to be an election notice for the authority under new part 3, division 1A. If the scheme manager gives the holder a notice under subsection (4)— new part 3, division 1, subdivision 3 applies in relation to the authority as if a reference in new section 38(3) to the annual review allocation day included a reference to the relevant anniversary day for the authority; and the scheme manager must— decide the annual review allocation day for the authority; and give the holder notice of the decision before or when the notice under new section 41 is given to the holder. The annual review allocation day takes effect on the relevant anniversary day for the authority. New section 38(3) does not apply to an annual review allocation day that is within 9 months after the relevant anniversary day for the authority. To the extent new part 3, division 2, subdivision 1 applies in relation to an annual review decision made because of subsection (6), a reference in new sections 47 and 49 to the current review day is taken to be a reference to the relevant anniversary day for the authority. If the holder does not give the scheme manager a notice under subsection (3) within the period mentioned in subsection (2)(b)— the scheme manager must give the holder a notice stating that part 3, division 2, subdivision 2 applies in relation to the authority; and new part 3, division 2, subdivision 2 applies in relation to the authority as if— the matters mentioned in new section 53(f) applied in relation to the authority; and new section 55A required the surety for the authority to be given within 30 business days after the later of the following— the relevant anniversary day; the day the period mentioned in subsection (2)(b) ends. This section stops applying in relation to the authority if, after the commencement and before the relevant anniversary day for the authority— the estimated rehabilitation cost for the authority is less than $100,000; or the authority is surrendered under the Environmental Protection Act 1994 , chapter 5; or a changed holder event happens that has the effect of another holder of the authority being liable to pay a contribution, or give a surety, under new part 3. Also, this section stops applying in relation to the authority if— the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount; and immediately before the estimated rehabilitation cost increased, an election notice is not in effect for the authority. s 105 ins 2024 No. 33 s 129 (sec.105-ssec.1) This section applies if— immediately before the commencement— an authority was allocated to the risk category of very low, low or moderate; and the annual review process for the authority had not started; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than $100,000 but less than $10m. (sec.105-ssec.2) The scheme manager must, at least 30 business days before the relevant anniversary day for the authority, give the holder a notice stating— that the holder may elect for the authority to be subject to risk category allocation under part 3, division 1; and that the holder may make the election within 20 business days after the notice is given to the holder. (sec.105-ssec.3) The holder may elect for the authority to be subject to risk category allocation under new part 3, division 1 by giving the scheme manager notice of the election within the period mentioned in subsection (2)(b). (sec.105-ssec.4) If the holder gives the scheme manager a notice under subsection (3) within the period mentioned in subsection (2)(b), the scheme manager must give the holder a notice stating— the day the notice is given; and the authority to which the notice relates; and that the authority is subject to risk category allocation under part 3, division 1. (sec.105-ssec.5) A notice given under subsection (4) is taken to be an election notice for the authority under new part 3, division 1A. (sec.105-ssec.6) If the scheme manager gives the holder a notice under subsection (4)— new part 3, division 1, subdivision 3 applies in relation to the authority as if a reference in new section 38(3) to the annual review allocation day included a reference to the relevant anniversary day for the authority; and the scheme manager must— decide the annual review allocation day for the authority; and give the holder notice of the decision before or when the notice under new section 41 is given to the holder. (sec.105-ssec.7) The annual review allocation day takes effect on the relevant anniversary day for the authority. (sec.105-ssec.8) New section 38(3) does not apply to an annual review allocation day that is within 9 months after the relevant anniversary day for the authority. (sec.105-ssec.9) To the extent new part 3, division 2, subdivision 1 applies in relation to an annual review decision made because of subsection (6), a reference in new sections 47 and 49 to the current review day is taken to be a reference to the relevant anniversary day for the authority. (sec.105-ssec.10) If the holder does not give the scheme manager a notice under subsection (3) within the period mentioned in subsection (2)(b)— the scheme manager must give the holder a notice stating that part 3, division 2, subdivision 2 applies in relation to the authority; and new part 3, division 2, subdivision 2 applies in relation to the authority as if— the matters mentioned in new section 53(f) applied in relation to the authority; and new section 55A required the surety for the authority to be given within 30 business days after the later of the following— the relevant anniversary day; the day the period mentioned in subsection (2)(b) ends. (sec.105-ssec.11) This section stops applying in relation to the authority if, after the commencement and before the relevant anniversary day for the authority— the estimated rehabilitation cost for the authority is less than $100,000; or the authority is surrendered under the Environmental Protection Act 1994 , chapter 5; or a changed holder event happens that has the effect of another holder of the authority being liable to pay a contribution, or give a surety, under new part 3. (sec.105-ssec.12) Also, this section stops applying in relation to the authority if— the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount; and immediately before the estimated rehabilitation cost increased, an election notice is not in effect for the authority.