398Securities

398 Securities

(1) A person may be required to lodge a security with the Designated Authority under: (a) section 399 (security as prerequisite for proper acceptance of provisional grant or provisional renewal); or (b) section 118 (exploration licence conditions), 177 (retention licence conditions), 254 (mining licence conditions) or 304 (works licence conditions). (2) Securities are required as a way of ensuring compliance with this Act and with licence conditions. Securities may only be used for the purposes laid down in section 400.