61Financial assurance condition—imposition

61 Financial assurance condition—imposition (1) The director-general may impose a financial assurance condition on a public unleased land permit if satisfied that it is justified having regard to— (a) the likelihood that the permitted activity will cause serious or material damage to the permitted public unleased land; and (b) the likelihood that action will need to be taken in the future to repair the damage; and (c) the financial assurance considerations (if any); and Note Financial assurance considerations—see s (5). (d) any other relevant matter.

(2) A financial assurance must be in the form of— (a) a bank guarantee; or (b) a bond; or (c) an insurance policy; or (d) if the director-general reasonably believes that, in the circumstances, the forms of assurance in paragraphs (a), (b) and (c) are not appropriate—another form of security that the director-general considers appropriate. (3) The director-general must not require financial assurance of an amount greater than the total amount that the director-general reasonably believes is needed to repair the damage that could result from the activity. (4) A financial assurance must be given for the period stated in the condition on the public unleased land permit. (5) The Minister may determine matters to be considered by the director-general in deciding whether to impose financial assurance conditions on public unleased land permits (financial assurance considerations). (6) A determination is a disallowable instrument.