sec.55AWhen surety must be given

sec.55A When surety must be given

This section states when the holder of the authority must give the surety. For an authority mentioned in section 53 (a) or (b) , the surety must be given within 30 business days after— for an initial allocation decision—the initial allocation day for the authority; or for a changed holder allocation—the day the decision takes effect under section 37 ; or for an annual review decision—the annual review day for the authority. For an authority mentioned in section 53 (c) , the surety must be given within 30 business days after the day the scheme manager decides the holder must give a surety, rather than pay a contribution, to preserve the financial viability of the scheme fund. For an authority mentioned in section 53 (d) , the surety must be given within 30 business days after the later of the following— if division 1A applies in relation to the changed holder for the changed holder event—the day the election period ends; the day the prescribed dealing is approved. For an authority mentioned in section 53 (e) , the surety must be given within 30 business days after— if division 1A applies in relation to the changed holder for the changed holder event—the day the election period ends; or otherwise—the day the changed holder event happens. For an authority mentioned in section 53 (f) , if division 1A applies in relation to the holder for the administering authority’s decision, the surety must be given within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the election period ends—the day that is the end of the period for which the contribution was paid; or otherwise—the day the election period ends. For another authority mentioned in section 53 (f) , the surety must be given within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the administering authority makes the decision—the day that is the end of the period for which the contribution was paid; or otherwise—the day the administering authority makes the decision. For an authority mentioned in section 53 (g) , the surety must be paid within 30 business days after the changed holder event happens. For an authority mentioned in section 53 (h) , the surety must be paid within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the administering authority made the decision—the day that is the end of the period for which the contribution was paid; or otherwise—the day the administering authority makes the decision. For a small scale mining tenure mentioned in section 53 (i) , the surety must be given before carrying out an activity, or allowing the carrying out of an activity, under the tenure. The scheme manager may extend a period mentioned in any of subsections (2) to (9) if the scheme manager is satisfied it is not reasonably practicable for the holder to obtain the surety within the period. s 55A ins 2024 No. 33 s 121 (sec.55A-ssec.1) This section states when the holder of the authority must give the surety. (sec.55A-ssec.2) For an authority mentioned in section 53 (a) or (b) , the surety must be given within 30 business days after— for an initial allocation decision—the initial allocation day for the authority; or for a changed holder allocation—the day the decision takes effect under section 37 ; or for an annual review decision—the annual review day for the authority. (sec.55A-ssec.3) For an authority mentioned in section 53 (c) , the surety must be given within 30 business days after the day the scheme manager decides the holder must give a surety, rather than pay a contribution, to preserve the financial viability of the scheme fund. (sec.55A-ssec.4) For an authority mentioned in section 53 (d) , the surety must be given within 30 business days after the later of the following— if division 1A applies in relation to the changed holder for the changed holder event—the day the election period ends; the day the prescribed dealing is approved. (sec.55A-ssec.5) For an authority mentioned in section 53 (e) , the surety must be given within 30 business days after— if division 1A applies in relation to the changed holder for the changed holder event—the day the election period ends; or otherwise—the day the changed holder event happens. (sec.55A-ssec.6) For an authority mentioned in section 53 (f) , if division 1A applies in relation to the holder for the administering authority’s decision, the surety must be given within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the election period ends—the day that is the end of the period for which the contribution was paid; or otherwise—the day the election period ends. (sec.55A-ssec.7) For another authority mentioned in section 53 (f) , the surety must be given within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the administering authority makes the decision—the day that is the end of the period for which the contribution was paid; or otherwise—the day the administering authority makes the decision. (sec.55A-ssec.8) For an authority mentioned in section 53 (g) , the surety must be paid within 30 business days after the changed holder event happens. (sec.55A-ssec.9) For an authority mentioned in section 53 (h) , the surety must be paid within 30 business days after— if the period for which a contribution to the scheme fund has been paid for the authority has not ended immediately before the administering authority made the decision—the day that is the end of the period for which the contribution was paid; or otherwise—the day the administering authority makes the decision. (sec.55A-ssec.10) For a small scale mining tenure mentioned in section 53 (i) , the surety must be given before carrying out an activity, or allowing the carrying out of an activity, under the tenure. (sec.55A-ssec.11) The scheme manager may extend a period mentioned in any of subsections (2) to (9) if the scheme manager is satisfied it is not reasonably practicable for the holder to obtain the surety within the period.