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ENVIRONMENTAL PROTECTION ACT 1994 - SECT 599
Effect of financial assurance on security
599 Effect of financial assurance on security
(1) The financial assurance condition under section 598 only affects a
security to the extent provided under that section.
(2) Without limiting
subsection (1), section 598 does not affect or change— (a) the security as a
security under the Mineral Resources Act; or
(b) the matters for which the
security was given under that Act; or
(c) the enforcement of the security
under that Act, as amended by the amending Act.
(3) Section 598, or any thing
done under it, does not— (a) discharge a security; or
(b) discharge or
release a surety or other obligee, wholly or partly, from an obligation; or
(c) fulfil a condition allowing a person to terminate an instrument or be
released, wholly or partly, from an obligation or modify the operation or
effect of an instrument or obligation.
(4) If the advice or consent of, or
giving notice to, a person would be necessary to give effect to the giving of
the financial assurance— (a) the advice is taken to have been obtained; and
(b) the consent or notice is taken to have been given.
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