QLDIn ForceAct
Petroleum and Gas (Production and Safety) Act 2004
sec.488Power to require security for petroleum authority
Start here
Get a plain-English read of sec.488
Turn the raw legal text into a practical explanation grounded in Petroleum and Gas (Production and Safety) Act 2004.
### sec.488 Power to require security for petroleum authority
The Minister may require the holder of a petroleum authority, or a person who has applied for a petroleum authority, to give the State security for the authority, or proposed authority.
The security must be—
in the form prescribed under a regulation; and
of at least the amount prescribed under a regulation.
The requirement may be made at any time.
However, the requirement does not take effect until the holder or applicant is given—
for a requirement to give security in the form and amount prescribed under subsection (2) —notice of the requirement; or
otherwise—an information notice about the decision to make the requirement.
s 488 amd 2004 No. 26 s 166
(sec.488-ssec.1) The Minister may require the holder of a petroleum authority, or a person who has applied for a petroleum authority, to give the State security for the authority, or proposed authority.
(sec.488-ssec.2) The security must be— in the form prescribed under a regulation; and of at least the amount prescribed under a regulation.
(sec.488-ssec.3) The requirement may be made at any time.
(sec.488-ssec.4) However, the requirement does not take effect until the holder or applicant is given— for a requirement to give security in the form and amount prescribed under subsection (2) —notice of the requirement; or otherwise—an information notice about the decision to make the requirement.
- (a) in the form prescribed under a regulation; and
- (b) of at least the amount prescribed under a regulation.
- (a) for a requirement to give security in the form and amount prescribed under subsection (2) —notice of the requirement; or
- (b) otherwise—an information notice about the decision to make the requirement.