261FClaim on and use of security deposit

#### 261F Claim on and use of security deposit 261F Claim on and use of security deposit > > (1) The Minister may make a claim on or realise a security deposit provided under a security deposit condition if— > > > > > (a) the authorisation is cancelled or otherwise ceases to have effect and an obligation under the former authorisation remains unfulfilled, or > > > > > (b) the holder of the authorisation has failed to comply with a direction under section 240 that relates to the authorisation or to activities carried out under, or purportedly under, the authorisation. > > > (1A) The Minister may make a claim on or realise a security deposit for a failure to comply with a direction under section 240 even if the security deposit condition under which it was provided was imposed before the direction was given. > > > (2) Before making a claim on or realising a security deposit, the Minister must, if practicable, give written notice of the proposed action to the holder of the authorisation or, if the authorisation has been cancelled or has otherwise ceased to have effect, the former holder of the authorisation. > > > (3) The Minister may use money obtained under a security deposit— > > > > > (a) in the circumstances to which subsection (1) (a) refers—to recover or fund the costs or expenses that the Crown reasonably incurs in causing any obligation under the former authorisation to be fulfilled, or > > > > > (b) in the circumstances to which subsection (1) (b) refers—to recover or fund the reasonable costs or expenses of the Crown in giving effect to the direction under section 240. > > > (3A) The Minister may use money obtained under a security deposit for a small-scale title to recover or fund the reasonable costs or expenses that the Crown reasonably incurs rehabilitating land affected by activities undertaken under any small-scale title. > > > (4) The Minister may invest money obtained under a security deposit— > > > > > (a) if the Minister is a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in a way the Department is permitted to invest money under that Part, or > > > > > (b) if the Minister is not a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in a way approved by the Treasurer. > > > (5) Any interest accruing on the money is to be paid into the Derelict Mine Sites Fund. > > > (6) Money obtained under a security deposit and used under subsection (3) or (3A) is taken, for all purposes, to be forfeited to the Crown when it is so used. > > > (7) The functions of the Minister under this Part may be exercised with or without the benefit of a finding by a court or tribunal that the holder of the authorisation concerned has failed to comply with a direction under section 240 or failed to fulfil any obligation under the authorisation. > > > (8) In relation to a group security deposit, a reference in this section to the authorisation is a reference to any authorisation in respect of which the group security deposit is provided and maintained. > > **s 261F:** Ins 2008 No 19, Sch 1 \[224\]. Am 2012 No 46, Sch 5.2 \[35\]–\[38\]; 2015 No 40, Sch 1 \[100\]; 2022 No 21, Sch 1\[106\] \[107\].