Queensland Consolidated Acts

GREENHOUSE GAS STORAGE ACT 2009 - SECT 270

270 Operation and purpose of pt 6

(1) This part empowers the Minister to require, from time to time, the holder of a GHG authority or a person who has applied for a GHG authority to give the State security for the authority or proposed authority.

(2) The security may be used to pay—

(a) any liability under this Act that the State incurs because of an act or omission of the holder; and

(b) any unpaid annual rent payable by the holder to the State; and

(c) other unpaid amounts payable under this Act by the holder to the State, including for example, any of the following payable by the holder to the State—

(i) unpaid civil penalty;

(ii) unpaid interest on unpaid annual rent;

(iii) any debt payable by the holder under section 371 ; and

(d) for a GHG authority that is a GHG lease—unpaid rates and charges, including unpaid interest on overdue rates and charges, payable to the local government in whose area the lease is situated; and

(e) any compensation the State must pay under section 360 because of the exercise or purported exercise of a remedial power under section 356 for the GHG authority, whether or not the authority has ended.