Mineral and Energy Resources (Financial Provisioning) Act 2018
sec.46Application of subdivision
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sec.46 Application of subdivision
This subdivision applies if— both of the following apply— the scheme manager makes an allocation decision for an authority that allocates the authority to 1 of the following risk categories— very low; low; moderate; moderate-high; the scheme manager does not decide, under section 53 (c) (ii) , that the holder of the authority must give a surety rather than pay a contribution; or all of the following apply— the scheme manager makes an annual review decision for an authority that allocates the authority to the risk category of high; the previous annual review decision for the authority, made within 21 months before the decision mentioned in subparagraph (i) , allocated the authority to 1 of the following risk categories— very low; low; moderate; moderate-high; the scheme manager is satisfied when the scheme manager makes the annual review decision mentioned in subparagraph (i) that the holder is not reasonably able to give a surety for the authority within 12 months after the decision is made; the scheme manager is satisfied when the scheme manager makes the annual review decision mentioned in subparagraph (i) that the scheme manager is unlikely to be asked under section 64 to make a payment from the scheme fund in relation to the authority. s 46 amd 2024 No. 33 s 112
- (a) both of the following apply— (i) the scheme manager makes an allocation decision for an authority that allocates the authority to 1 of the following risk categories— (A) very low; (B) low; (C) moderate; (D) moderate-high; (ii) the scheme manager does not decide, under section 53 (c) (ii) , that the holder of the authority must give a surety rather than pay a contribution; or
- (i) the scheme manager makes an allocation decision for an authority that allocates the authority to 1 of the following risk categories— (A) very low; (B) low; (C) moderate; (D) moderate-high;
- (A) very low;
- (B) low;
- (C) moderate;
- (D) moderate-high;
- (ii) the scheme manager does not decide, under section 53 (c) (ii) , that the holder of the authority must give a surety rather than pay a contribution; or
- (b) all of the following apply— (i) the scheme manager makes an annual review decision for an authority that allocates the authority to the risk category of high; (ii) the previous annual review decision for the authority, made within 21 months before the decision mentioned in subparagraph (i) , allocated the authority to 1 of the following risk categories— (A) very low; (B) low; (C) moderate; (D) moderate-high; (iii) the scheme manager is satisfied when the scheme manager makes the annual review decision mentioned in subparagraph (i) that the holder is not reasonably able to give a surety for the authority within 12 months after the decision is made; (iv) the scheme manager is satisfied when the scheme manager makes the annual review decision mentioned in subparagraph (i) that the scheme manager is unlikely to be asked under section 64 to make a payment from the scheme fund in relation to the authority.