28CRequiring financial assurances

28C Requiring financial assurances

28C Requiring financial assurances

(1) The conditions of a radiation management licence may require the holder or former holder of the licence to provide a financial assurance. The Authority may require any such financial assurance to be provided before it issues, suspends or cancels the licence or before it approves of its surrender.

(2) A financial assurance may be in one or more of the following forms—

(a) a bank guarantee,

(b) a bond,

(c) another form of security that the Authority considers appropriate and specifies in the condition.

(3) A condition of a licence may provide for the procedures under which the financial assurance may be called on or used.

s 28C: Ins 2010 No 91, Sch 1 [13].