Protection of the Environment Operations Act 1997
303Claim on or realising of financial assurance
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303 Claim on or realising of financial assurance
303 Claim on or realising of financial assurance
(1) The appropriate regulatory authority may recover or fund the reasonable costs or expenses of that authority or other person in carrying out any such work or program (including the likely costs and expenses of that 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 appropriate regulatory authority must give to the holder or former holder of the licence a written notice under this section.
(3) The notice must—
(a) state details of the work or program carried out or proposed to be carried out, and
(b) state the amount of the financial assurance to be claimed or realised, and
(c) invite the person to make representations to the appropriate regulatory authority to show why the financial assurance should not be claimed or realised as proposed, and
(d) state the period (at least 30 days after the notice is given to the person) within which representations may be made.
(4) The representations must be made in writing.
(5) After the end of the period stated in the notice, the appropriate regulatory authority must consider any representations properly made by the person.
(6) If the appropriate regulatory authority decides to make a claim on or realise the financial assurance or part of it, the appropriate regulatory authority must immediately give written notice to the holder or former holder of the licence of its decision and the reasons for the decision.
(7) The appropriate regulatory authority must return any excess amounts to the holder or former holder of the licence or that person’s successors.
(8) If the amount of financial assurance claimed or realised by the appropriate regulatory authority is not sufficient to cover all the costs and expenses concerned, that authority may recover the excess from the holder or former holder of the licence as a debt in any court of competent jurisdiction.