32Securities

32 Securities

(1) For the purposes of this Act, if—

(a) a greenhouse gas assessment permit, greenhouse gas holding lease or greenhouse gas injection licence is in force; and

(i) the successful applicant for the permit, lease or licence lodged a security with the Minister in response to the offer document for the permit, lease or licence; or

(ii) the registered holder, or a former registered holder, of the permit, lease or licence lodged a security with the Minister in response to a notice under section 489; and

(c) the security has not been wholly discharged—

the security is taken to be in force in relation to the permit, lease or licence.

(2) For the purposes of this Act, if—

(a) a site closing certificate is in force; and

(b) the successful applicant for the certificate lodged a security with the Minister in response to the pre‑certificate notice for the site closing certificate; and

(c) the security has not been wholly discharged—

the security is taken to be in force in relation to the site closing certificate.

For pre‑certificate notice, see sections 420, 421, 422 and 423.