sec.334RWhat is the Collingwood Park State guarantee

### sec.334R What is the Collingwood Park State guarantee The Collingwood Park State guarantee or guarantee is a guarantee given by the State, under this Act, for affected land— to pay for any works necessary to stabilise the affected land if subsidence damage to the land occurs; or to repair any subsidence damage to the affected land if, in the chief executive’s opinion, it is cost-effective for the State to repair the damage; or to purchase the affected land at market value if— the land is affected by subsidence damage; and in the chief executive’s opinion, it is not cost-effective for the State to repair the damage. A decision about the guarantee under subsection (1) is made under this Act. In this section— market value , of affected land, means the market value the land would have had, at the time the chief executive formed the opinion mentioned in subsection (1) (c) (ii) , if the subsidence damage had not happened. mining activity means an activity for the purpose of extracting coal by underground mining. subsidence damage , for affected land, means damage to the affected land, or any buildings or structures on the land that were in existence at the beginning of 25 April 2008, caused by or related to subsidence resulting from mining activity. s 334R (prev s 381B) ins 2008 No. 56 s 72 amd 2011 No. 2 s 74 ; 2011 No. 16 s 5 reloc and renum 2012 No. 20 s 309 (sec.334R-ssec.1) The Collingwood Park State guarantee or guarantee is a guarantee given by the State, under this Act, for affected land— to pay for any works necessary to stabilise the affected land if subsidence damage to the land occurs; or to repair any subsidence damage to the affected land if, in the chief executive’s opinion, it is cost-effective for the State to repair the damage; or to purchase the affected land at market value if— the land is affected by subsidence damage; and in the chief executive’s opinion, it is not cost-effective for the State to repair the damage. (sec.334R-ssec.2) A decision about the guarantee under subsection (1) is made under this Act. (sec.334R-ssec.3) In this section— market value , of affected land, means the market value the land would have had, at the time the chief executive formed the opinion mentioned in subsection (1) (c) (ii) , if the subsidence damage had not happened. mining activity means an activity for the purpose of extracting coal by underground mining. subsidence damage , for affected land, means damage to the affected land, or any buildings or structures on the land that were in existence at the beginning of 25 April 2008, caused by or related to subsidence resulting from mining activity. - (a) to pay for any works necessary to stabilise the affected land if subsidence damage to the land occurs; or - (b) to repair any subsidence damage to the affected land if, in the chief executive’s opinion, it is cost-effective for the State to repair the damage; or - (c) to purchase the affected land at market value if— (i) the land is affected by subsidence damage; and (ii) in the chief executive’s opinion, it is not cost-effective for the State to repair the damage. - (i) the land is affected by subsidence damage; and - (ii) in the chief executive’s opinion, it is not cost-effective for the State to repair the damage. - (i) the land is affected by subsidence damage; and - (ii) in the chief executive’s opinion, it is not cost-effective for the State to repair the damage.