Mineral and Energy Resources (Financial Provisioning) Act 2018
sec.96Existing changed holder review allocation not in effect before the commencement
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sec.96 Existing changed holder review allocation not in effect before the commencement
This section applies if— before the commencement, the scheme manager had made a changed holder review allocation under former section 32 in relation to an authority; and immediately before the commencement, the changed holder review allocation had not taken effect under former section 37; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount. The changed holder review allocation is taken to be a changed holder review allocation decided under new section 32. The changed holder review allocation takes effect under new section 37. For applying new section 37, a reference in the section to section 36(1) is taken to be a reference to former section 36. s 96 ins 2024 No. 33 s 129 (sec.96-ssec.1) This section applies if— before the commencement, the scheme manager had made a changed holder review allocation under former section 32 in relation to an authority; and immediately before the commencement, the changed holder review allocation had not taken effect under former section 37; and on the commencement, the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount. (sec.96-ssec.2) The changed holder review allocation is taken to be a changed holder review allocation decided under new section 32. (sec.96-ssec.3) The changed holder review allocation takes effect under new section 37. (sec.96-ssec.4) For applying new section 37, a reference in the section to section 36(1) is taken to be a reference to former section 36.
- (a) before the commencement, the scheme manager had made a changed holder review allocation under former section 32 in relation to an authority; and
- (b) immediately before the commencement, the changed holder review allocation had not taken effect under former section 37; and
- (c) on the commencement, the estimated rehabilitation cost for the authority is equal to or more than the prescribed ERC amount.