sec.113Detained ship must be released on giving security

### sec.113 Detained ship must be released on giving security The chief executive must release a ship detained under this Act if a security is given under this section. The amount of the security must be enough, in the chief executive’s opinion, to cover— the State’s discharge expenses in relation to the ship and, if the chief executive makes an election under subsection (3) , the prescribed entity’s discharge expenses; and the penalty likely to be payable if a successful prosecution for the discharge offence were to be taken; and interest on the discharge expenses. The chief executive may elect to secure a prescribed entity’s discharge expenses if the prescribed entity asks. The security may be provided in any 1 or more of the following forms, or in another form, the chief executive considers appropriate— a bank guarantee; a bond; an insurance policy; a letter of undertaking. The chief executive must make a decision about the amount and form of security within a reasonable time. s 113 amd 2001 No. 79 s 61 ; 2010 No. 19 ss 137 , 232 ; 2019 No. 25 s 26 (sec.113-ssec.1) The chief executive must release a ship detained under this Act if a security is given under this section. (sec.113-ssec.2) The amount of the security must be enough, in the chief executive’s opinion, to cover— the State’s discharge expenses in relation to the ship and, if the chief executive makes an election under subsection (3) , the prescribed entity’s discharge expenses; and the penalty likely to be payable if a successful prosecution for the discharge offence were to be taken; and interest on the discharge expenses. (sec.113-ssec.3) The chief executive may elect to secure a prescribed entity’s discharge expenses if the prescribed entity asks. (sec.113-ssec.4) The security may be provided in any 1 or more of the following forms, or in another form, the chief executive considers appropriate— a bank guarantee; a bond; an insurance policy; a letter of undertaking. (sec.113-ssec.5) The chief executive must make a decision about the amount and form of security within a reasonable time. - (a) the State’s discharge expenses in relation to the ship and, if the chief executive makes an election under subsection (3) , the prescribed entity’s discharge expenses; and - (b) the penalty likely to be payable if a successful prosecution for the discharge offence were to be taken; and - (c) interest on the discharge expenses. - (a) a bank guarantee; - (b) a bond; - (c) an insurance policy; - (d) a letter of undertaking.