sec.26Provision of security

### sec.26 Provision of security A prospecting permit shall not be granted until the applicant for the permit deposits the security (if any) determined by the chief executive for compliance with the conditions of the prospecting permit and the provisions of this Act and to rectify any actual damage that may be caused by any person whilst purporting to act under the authority of the permit to pre-existing improvements for the permit. If the chief executive fixes an amount of security under subsection (1) , the amount must not be less than the amount prescribed under a regulation. The owner of any land may apply in writing to the chief executive to rectify the damage referred to in subsection (1) that has been caused by any activity allegedly authorised under a prospecting permit in respect of that land. If the chief executive is satisfied (whether or not upon an application referred to in subsection (3) ) that damage referred to in subsection (1) has been caused by any person purporting to act under the authority of a prospecting permit the chief executive shall require that person to take all action necessary to rectify that damage. The chief executive may, at any time (whether before or after the expiry or cancellation of a prospecting permit), use all or part of the security deposited for the permit to rectify actual damage caused by someone acting under the permit. If, at any time (whether during or within 20 business days after the expiration of the term of a prospecting permit) the amount or any part of the amount deposited under this section is utilised as provided by subsection (5) or the chief executive considers that, in view of the damage caused or likely to be caused by any person purporting to act under the authority of the prospecting permit or for any other reason, a further amount of security should be deposited in respect of that prospecting permit, the chief executive shall require the holder or former holder of the prospecting permit, within the time specified by the chief executive, to deposit the further security. The chief executive may accept a bond or a guarantee or indemnity by, or other financial arrangement with, a financial institution, insurance company or another credit provider approved by the chief executive or other form of security acceptable to the chief executive as the whole or part of the security to be deposited under this section. It shall be a condition of a prospecting permit that the holder shall deposit security or further security from time to time in accordance with a requirement made as provided by this section. Subsection (10) applies if an amount of security deposited by a holder of a prospecting permit has not been used when the permit terminates and— for a parcel prospecting permit—the owner of the occupied land in the area of the permit— gives the chief executive written approval to refund the security; or does not make a claim against the security within— 20 business days after the termination; or a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or for a district prospecting permit—an owner of land in the area of the permit does not make a claim against the security within— 20 business days after the termination; or a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner. After deducting the amount the chief executive considers should be held for use under subsection (5) , the chief executive may refund the balance of the security. The chief executive must refund the amount to the permit holder or in accordance with any written direction the holder gives the chief executive. In the absence of evidence to the contrary, the approval of an owner who is a joint tenant or tenant in common is taken to be the approval of all the owners for subsection (9) (a) (i) . Subsection (10) does not limit the chief executive’s powers under subsection (15) . If— a prospecting permit holder applies for a mining claim or mining lease; and the application has not been finally decided when the permit is terminated; and after the application is decided, an amount held as security under this section is not held as security for the claim or lease; the amount may be refunded under subsection (9) . If the chief executive accepts a bond, guarantee or indemnity by, or another financial arrangement with, a financial institution, insurance company or credit provider as security under this section, any amount payable to the holder under subsection (9) or (10) must be refunded to the financial institution, insurance company or credit provider and not to the holder of the prospecting permit to which the security relates. s 26 amd 1995 No. 21 s 11 ; 1997 No. 17 s 74 sch ; 2000 No. 64 s 67 ; 2005 No. 8 s 2 sch ; 2012 No. 20 s 125 sch 1 ; 2013 No. 10 s 193 sch 1 (sec.26-ssec.1) A prospecting permit shall not be granted until the applicant for the permit deposits the security (if any) determined by the chief executive for compliance with the conditions of the prospecting permit and the provisions of this Act and to rectify any actual damage that may be caused by any person whilst purporting to act under the authority of the permit to pre-existing improvements for the permit. (sec.26-ssec.2) If the chief executive fixes an amount of security under subsection (1) , the amount must not be less than the amount prescribed under a regulation. (sec.26-ssec.3) The owner of any land may apply in writing to the chief executive to rectify the damage referred to in subsection (1) that has been caused by any activity allegedly authorised under a prospecting permit in respect of that land. (sec.26-ssec.4) If the chief executive is satisfied (whether or not upon an application referred to in subsection (3) ) that damage referred to in subsection (1) has been caused by any person purporting to act under the authority of a prospecting permit the chief executive shall require that person to take all action necessary to rectify that damage. (sec.26-ssec.5) The chief executive may, at any time (whether before or after the expiry or cancellation of a prospecting permit), use all or part of the security deposited for the permit to rectify actual damage caused by someone acting under the permit. (sec.26-ssec.6) If, at any time (whether during or within 20 business days after the expiration of the term of a prospecting permit) the amount or any part of the amount deposited under this section is utilised as provided by subsection (5) or the chief executive considers that, in view of the damage caused or likely to be caused by any person purporting to act under the authority of the prospecting permit or for any other reason, a further amount of security should be deposited in respect of that prospecting permit, the chief executive shall require the holder or former holder of the prospecting permit, within the time specified by the chief executive, to deposit the further security. (sec.26-ssec.7) The chief executive may accept a bond or a guarantee or indemnity by, or other financial arrangement with, a financial institution, insurance company or another credit provider approved by the chief executive or other form of security acceptable to the chief executive as the whole or part of the security to be deposited under this section. (sec.26-ssec.8) It shall be a condition of a prospecting permit that the holder shall deposit security or further security from time to time in accordance with a requirement made as provided by this section. (sec.26-ssec.9) Subsection (10) applies if an amount of security deposited by a holder of a prospecting permit has not been used when the permit terminates and— for a parcel prospecting permit—the owner of the occupied land in the area of the permit— gives the chief executive written approval to refund the security; or does not make a claim against the security within— 20 business days after the termination; or a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or for a district prospecting permit—an owner of land in the area of the permit does not make a claim against the security within— 20 business days after the termination; or a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner. (sec.26-ssec.10) After deducting the amount the chief executive considers should be held for use under subsection (5) , the chief executive may refund the balance of the security. (sec.26-ssec.11) The chief executive must refund the amount to the permit holder or in accordance with any written direction the holder gives the chief executive. (sec.26-ssec.12) In the absence of evidence to the contrary, the approval of an owner who is a joint tenant or tenant in common is taken to be the approval of all the owners for subsection (9) (a) (i) . (sec.26-ssec.13) Subsection (10) does not limit the chief executive’s powers under subsection (15) . (sec.26-ssec.14) If— a prospecting permit holder applies for a mining claim or mining lease; and the application has not been finally decided when the permit is terminated; and after the application is decided, an amount held as security under this section is not held as security for the claim or lease; the amount may be refunded under subsection (9) . (sec.26-ssec.15) If the chief executive accepts a bond, guarantee or indemnity by, or another financial arrangement with, a financial institution, insurance company or credit provider as security under this section, any amount payable to the holder under subsection (9) or (10) must be refunded to the financial institution, insurance company or credit provider and not to the holder of the prospecting permit to which the security relates. - (a) for a parcel prospecting permit—the owner of the occupied land in the area of the permit— (i) gives the chief executive written approval to refund the security; or (ii) does not make a claim against the security within— (A) 20 business days after the termination; or (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (i) gives the chief executive written approval to refund the security; or - (ii) does not make a claim against the security within— (A) 20 business days after the termination; or (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (A) 20 business days after the termination; or - (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (b) for a district prospecting permit—an owner of land in the area of the permit does not make a claim against the security within— (i) 20 business days after the termination; or (ii) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner. - (i) 20 business days after the termination; or - (ii) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner. - (i) gives the chief executive written approval to refund the security; or - (ii) does not make a claim against the security within— (A) 20 business days after the termination; or (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (A) 20 business days after the termination; or - (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (A) 20 business days after the termination; or - (B) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner; or - (i) 20 business days after the termination; or - (ii) a longer period (of not more than 3 months) fixed by the chief executive by written notice given to the permit holder and owner. - (a) a prospecting permit holder applies for a mining claim or mining lease; and - (b) the application has not been finally decided when the permit is terminated; and - (c) after the application is decided, an amount held as security under this section is not held as security for the claim or lease;