28HClaim on or realising of financial assurance

28H Claim on or realising of financial assurance

28H Claim on or realising of financial assurance

(1) The Authority may recover or fund the reasonable costs or expenses of the Authority or other person in carrying out any such work or program (including the likely costs and expenses of the Authority in directing and supervising the carrying out of the work or program) by making a claim on or realising the financial assurance or part of it.

(2) Before making the claim on or realising the financial assurance or part of it, the Authority must give to the holder or former holder of the licence a written notice that—

(a) states details of the work or program carried out or proposed to be carried out, and

(b) states the amount of the financial assurance to be claimed or realised, and

(c) invites the person to make representations to the Authority to show why the financial assurance should not be claimed or realised as proposed, and

(d) states the period (at least 30 days after the notice is given to the person) within which representations may be made.

(3) The representations must be made in writing.

(4) After the end of the period stated in the notice, the Authority must consider any representations properly made by the person.

(5) If the Authority decides to make a claim on or realise the financial assurance or part of it, the Authority must immediately give written notice to the holder or former holder of the licence of its decision and the reasons for the decision.

(6) The Authority must return any excess amounts to the holder or former holder of the licence or that person’s successors.

(7) If the amount of financial assurance claimed or realised by the Authority is not sufficient to cover all the costs and expenses concerned, the Authority may recover the excess from the holder or former holder of the licence in a court of competent jurisdiction as a debt.

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