Offshore Minerals Act 1998
sec.149Amendment of security requirements
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sec.149 Amendment of security requirements
If the provisional holder— is notified of a security requirement; and is dissatisfied with the amount of the security required; the provisional 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 provisional holder is given notice under section 147 . If a request is made under subsection (1) , the Minister may make a new decision under section 399 . The Minister must give the provisional holder notice of the new decision. (sec.149-ssec.1) If the provisional holder— is notified of a security requirement; and is dissatisfied with the amount of the security required; the provisional holder may ask the Minister to make a new decision under section 399 . (sec.149-ssec.2) The request must be made within 30 days after the day on which the provisional holder is given notice under section 147 . (sec.149-ssec.3) If a request is made under subsection (1) , the Minister may make a new decision under section 399 . (sec.149-ssec.4) The Minister must give the provisional holder notice of the new decision.
- (a) is notified of a security requirement; and
- (b) is dissatisfied with the amount of the security required;