NSWIn ForceAct
Offshore Minerals Act 1999
398Securities
Start here
Get a plain-English read of 398
Turn the raw legal text into a practical explanation grounded in Offshore Minerals Act 1999.
398 Securities
398 Securities
(1) A person may be required to lodge a security with the Minister 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.
(3) Securities may only be used for the purposes laid down in section 400.