36Conditions relating to financial assurances

36 Conditions relating to financial assurances (1) The NT EPA may impose on: (a) an environment protection approval; or (b) a licence, a condition that the holder of the environment protection approval or a licence must provide to the NT EPA a specified financial assurance of a specified amount within a specified time. (2) A financial assurance may be by way of: (a) ADI guarantee, bond or insurance policy; or (b) other security approved by the NT EPA. (3) The NT EPA may not impose a condition referred to in subsection (1) on an environment protection approval or a licence unless satisfied that: (a) the condition is justified by the degree of risk of pollution causing environmental harm posed by the activity to which the environment protection approval or the licence relates; (b) the condition is justified by the likelihood of action being required to be taken to prevent, minimise or make good environmental damage resulting from the activity to which the environment protection approval or the licence relates; or (c) the applicant for the environment protection approval or the licence has on one or more occasions contravened or failed to comply with this Act in relation to the activity to which the environment protection approval or the licence relates and the condition is justified by the nature, number or frequency of the contraventions or failures to comply. (4) The NT EPA may not specify a total amount of a financial assurance that is greater than the amount that would, in the NT EPA's opinion, be required to cover the likely costs of preventing, minimising or making good environmental damage that may result from the activity to which the environment protection approval or the licence relates.

Waste Management and Pollution Control Act 1998 29 (5) A financial assurance is to be provided: (a) for the period specified on the environment protection approval or the licence unless: (i) the condition imposing the financial assurance is revoked; (ii) the financial assurance is discharged; or (iii) the environment protection approval or licence is revoked, surrendered or transferred; or (b) where no period is specified on the environment protection approval or licence, until: (i) the condition imposing the financial assurance is revoked; (ii) the financial assurance is discharged; or (iii) the environment protection approval or the licence is revoked, surrendered or transferred. (6) A condition may require that a financial assurance extend beyond the period of the environment protection approval or licence to which the condition relates.