106CSecurity may be required before application for title is granted

106C Security may be required before application for title is granted

106C Security may be required before application for title is granted

(1) If the Minister proposes to grant a petroleum title subject to a security deposit condition, the Minister may, by notice given to the applicant—

(a) advise the applicant of the proposed security deposit condition, and

(b) require the applicant to provide the security deposit required to be given and maintained under that condition before the title is granted.

(2) If the Minister requires a security deposit to be provided before a petroleum title is granted, the title must not be granted unless the security deposit is provided.

ss 106C–106I: Ins 2012 No 46, Sch 6.1 [18].