Mineral and Energy Resources (Financial Provisioning) Act 2018
sec.69Replenishment of surety
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sec.69 Replenishment of surety
This section applies if— under section 68 , all or part of the surety is claimed or realised; and a surety for the authority or small scale mining tenure is still required under this part. The scheme manager must give the holder of the authority or small scale mining tenure a notice— stating how much of the surety has been claimed or realised; and directing the holder to, within 30 business days after the giving of the notice, replenish the surety to the amount that was held by the scheme manager before the surety started to be claimed or realised. It is a condition of the authority or small scale mining tenure that the holder must comply with the direction. The scheme manager must give a notice to the administering authority to inform the administering authority whether or not the holder has complied with the direction. The scheme manager may extend the period mentioned in subsection (2) (b) by notice given to the holder. (sec.69-ssec.1) This section applies if— under section 68 , all or part of the surety is claimed or realised; and a surety for the authority or small scale mining tenure is still required under this part. (sec.69-ssec.2) The scheme manager must give the holder of the authority or small scale mining tenure a notice— stating how much of the surety has been claimed or realised; and directing the holder to, within 30 business days after the giving of the notice, replenish the surety to the amount that was held by the scheme manager before the surety started to be claimed or realised. (sec.69-ssec.3) It is a condition of the authority or small scale mining tenure that the holder must comply with the direction. (sec.69-ssec.4) The scheme manager must give a notice to the administering authority to inform the administering authority whether or not the holder has complied with the direction. (sec.69-ssec.5) The scheme manager may extend the period mentioned in subsection (2) (b) by notice given to the holder.
- (a) under section 68 , all or part of the surety is claimed or realised; and
- (b) a surety for the authority or small scale mining tenure is still required under this part.
- (a) stating how much of the surety has been claimed or realised; and
- (b) directing the holder to, within 30 business days after the giving of the notice, replenish the surety to the amount that was held by the scheme manager before the surety started to be claimed or realised.