261BCSecretary may assess amount of security deposit

261BC Secretary may assess amount of security deposit

261BC Secretary may assess amount of security deposit

(1) The Secretary may assess the amount of the security deposit that may be required by a security deposit condition for a particular authorisation or, in the case of a group security deposit, for a particular group of authorisations.

(2) The amount of the security deposit as assessed by the Secretary is the assessed deposit for the authorisation or authorisations concerned.

(3) The Secretary must make an assessment if the regulations require an assessment to be made.

(4) The Secretary may make an assessment at any other time—

(a) at the request of the decision-maker, or

(b) on the Secretary’s own initiative.

(5) An assessment, and a decision to make or request an assessment, may be made without prior notice to, or consultation with, the holder of an affected authorisation.

(6) The Secretary must make an assessment under this section having regard to the following—

(a) the estimated cost of fulfilling any obligations under the authorisation or authorisations concerned, including obligations under the authorisation that may arise in the future,

(b) other matters, if any, prescribed by the regulations.

(7) An assessed deposit must not be less than—

(a) for a group security deposit—the amount prescribed by or calculated in accordance with the regulations,

(b) for another security deposit—the minimum deposit for the authorisation.

(8) After an assessment is made, the Secretary must give written notice of the assessment—

(a) to the holder of an affected authorisation, and

(b) to the decision-maker (if not the Secretary).

(9) The notice given to the holder of an affected authorisation must—

(a) set out the reasons for the Secretary’s assessment, and

(b) advise the holder of the holder’s entitlement to apply for a review of the assessment under this Part.