121‑12 Notice of rehabilitation expendit121‑12 Notice of rehabilitation expenditure

121‑12 Notice of rehabilitation expenditure

(1) If: (a) an amount of expenditure is incurred by a trustee or bondholder (the trustee) out of an amount provided as security as mentioned in subsection 35‑70(1) of the Minerals Resource Rent Tax Act 2012; and (b) the amount is for rehabilitation of an area that is the *project area for a *mining project interest the other entity has at the time the amount is incurred; the trustee must give the other entity a notice containing the information the trustee has that is necessary for the other entity to determine the extent, if any, to which the amount is *mining expenditure for the other entity. (2) The trustee must give the notice: (a) in writing, or in another form acceptable to the new entity; and (b) within 60 days of the incurring of the amount.

Note: Section 286‑75 provides an administrative penalty for a breach of this section. A breach of this section may also be an offence under section 8C, and making a false or misleading statement when providing the information may be an offence under section 8K or 8N.