155Additional restriction on requiring financial assurances—the Act, s 299

155 Additional restriction on requiring financial assurances—the Act, s 299

155 Additional restriction on requiring financial assurances—the Act, s 299

The following matters are prescribed for the Act, section 299(d)—

(a) the adequacy of the financial capacity of the following to fund the carrying out of works or programs required by or under a licence—

(i) the holder of the licence,

(ii) a former holder of the licence,

(iii) a proposed holder of the licence,

(b) the adequacy of financial assurances already provided, or required to be provided, by the same person to a public authority to secure or guarantee funding for or towards the carrying out of the same or substantially the same works or programs.

Note—

The Act, section 299 prevents a regulatory authority from imposing a condition on a licence requiring a financial assurance to be provided unless it is satisfied that the condition is justified considering a number of specified matters, including matters prescribed by the regulations.