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#### 48 Content 48 Content > > (1) A load reduction agreement must— > > > > > (a) specify the agreed load of an assessable pollutant for the purposes of calculating the load-based fee for each licence fee period covered by the agreement, and > > > > > (b) specify the program proposed to be undertaken to attain the agreed load, and > > > > > (c) set out the circumstances in which amounts must be paid to the EPA on termination or expiry of the agreement, and > > > > > (d) include conditions requiring the licence holder to— > > > > > > > (i) provide the EPA, with each annual return required under the licence, a report on progress towards attainment of the agreed load during the period to which the annual return relates, and > > > > > > > (ii) notify the EPA if the licence holder becomes aware it is likely the licence holder will not be able to attain the agreed load. > > > (2) A load reduction agreement may include a condition requiring the licence holder to supply a financial assurance to the EPA to secure obligations if the agreement is terminated or expires, which must provide for the following matters— > > > > > (a) the circumstances in which the EPA may make a claim on or realise the financial assurance or part of it, > > > > > (b) that the calling on and use of a financial assurance does not affect the liability of the licence holder, > > > > > (c) the effect of failure to provide a financial assurance. > > > (3) The financial assurance may be in one or more of the following forms— > > > > > (a) a bank guarantee, > > > > > (b) a bond, > > > > > (c) another form of security the EPA considers appropriate and specifies in the load reduction agreement.