sec.399Decision about requirement to lodge security

sec.399 Decision about requirement to lodge security

The Minister may decide that a person who has been provisionally granted a tenure must lodge a security with the Minister. The provisional holder will be given notice of the decision under section 66 or 83 , 147 , 210 or 227 or 279 . If the provisional holder does not lodge the security within a particular time provided for in this Act, the provisional grant will lapse (see section 72 or 86 , 153 , 216 or 230 or 285 ). If the Minister provisionally renews a tenure, the Minister may decide that the tenure holder must lodge a security with the Minister. The tenure holder will be given notice of the decision under section 110 , 169 , 246 or 296 . If the holder does not lodge the security within a particular time provided for in this Act, the provisional renewal will lapse (see section 116 , 175 , 252 or 302 ). A decision under subsection (1) or (2) must specify— the amount of the security required; and the kind of security required; and the way and the form in which the security is to be lodged. Without limiting subsections (1) and (2) , a decision may require the lodgment of a security in the form of a guarantee and, if a guarantee is required, the decision may specify— the kind of person who is to give the guarantee; and the terms of the guarantee. The decision must be in writing. If a person is provisionally granted a tenure over a tender sub-block, the amount decided as a security under subsection (1) must be the amount of security referred to in the tender sub-block tenure notice. For the contents of a tender sub-block tenure notice see sections 75 and 219 . (sec.399-ssec.1) The Minister may decide that a person who has been provisionally granted a tenure must lodge a security with the Minister. The provisional holder will be given notice of the decision under section 66 or 83 , 147 , 210 or 227 or 279 . If the provisional holder does not lodge the security within a particular time provided for in this Act, the provisional grant will lapse (see section 72 or 86 , 153 , 216 or 230 or 285 ). (sec.399-ssec.2) If the Minister provisionally renews a tenure, the Minister may decide that the tenure holder must lodge a security with the Minister. The tenure holder will be given notice of the decision under section 110 , 169 , 246 or 296 . If the holder does not lodge the security within a particular time provided for in this Act, the provisional renewal will lapse (see section 116 , 175 , 252 or 302 ). (sec.399-ssec.3) A decision under subsection (1) or (2) must specify— the amount of the security required; and the kind of security required; and the way and the form in which the security is to be lodged. (sec.399-ssec.4) Without limiting subsections (1) and (2) , a decision may require the lodgment of a security in the form of a guarantee and, if a guarantee is required, the decision may specify— the kind of person who is to give the guarantee; and the terms of the guarantee. (sec.399-ssec.5) The decision must be in writing. (sec.399-ssec.6) If a person is provisionally granted a tenure over a tender sub-block, the amount decided as a security under subsection (1) must be the amount of security referred to in the tender sub-block tenure notice. For the contents of a tender sub-block tenure notice see sections 75 and 219 .