New South Wales Consolidated Acts
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PROTECTION OF THE ENVIRONMENT OPERATIONS ACT 1997 - SECT 298
Requiring financial assurances
298 Requiring financial assurances
(1) Condition for financial assurance The conditions of an environment
protection licence may require the holder or former holder of the licence to
provide a financial assurance. The appropriate regulatory authority may
require any such financial assurance to be provided before it issues, suspends
or revokes the licence or before it approves of its surrender.
(2) Form of
financial assurance A financial assurance may be in one or more of the
following forms-- (a) a bank guarantee,
(b) a bond,
(c) another form of
security that the appropriate regulatory authority considers appropriate and
specifies in the condition.
(3) Provision for use of financial assurance A
condition of a licence may provide for the procedures under which the
financial assurance may be called on or used.
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