Offshore Minerals Act 1998
sec.112Amendment of security requirements
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sec.112 Amendment of security requirements
If the tenure holder— has been provisionally granted a renewal of the tenure under section 108 ; and is notified of a security requirement; and is dissatisfied with the amount of the security required; the holder may ask the Minister to make a new decision under section 399 . The request must be made within 30 days after the day on which the holder is given notice under section 110 . If a request is made under subsection (1) , the Minister may make a new decision under section 399 . The Minister must give the holder notice of the new decision. (sec.112-ssec.1) If the tenure holder— has been provisionally granted a renewal of the tenure under section 108 ; and is notified of a security requirement; and is dissatisfied with the amount of the security required; the holder may ask the Minister to make a new decision under section 399 . (sec.112-ssec.2) The request must be made within 30 days after the day on which the holder is given notice under section 110 . (sec.112-ssec.3) If a request is made under subsection (1) , the Minister may make a new decision under section 399 . (sec.112-ssec.4) The Minister must give the holder notice of the new decision.
- (a) has been provisionally granted a renewal of the tenure under section 108 ; and
- (b) is notified of a security requirement; and
- (c) is dissatisfied with the amount of the security required;