Queensland Consolidated Acts

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MINERAL AND ENERGY RESOURCES (FINANCIAL PROVISIONING) ACT 2018


- As at 1 March 2023 
- Act 30 of 2018 

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

           Division 1 - Introduction

   1.      Short title
   2.      Commencement

           Division 2 - Purposes and application of Act

   3.      Main purposes
   4.      How main purposes to be achieved
   5.      Relationship with Environmental Protection Act 1994
   6.      Act does not affect other rights or remedies

           Division 3 - Interpretation

              Subdivision 1 - Dictionary

   7.      Definitions

              Subdivision 2 - Key definitions

   8.      What is the estimated rehabilitation cost
   9.      What is an entity’s total estimated rehabilitation cost
   10.     What is the State’s total estimated rehabilitation cost
   11.     What is the fund threshold

   PART 2 - ESTABLISHMENT OF SCHEME AND RESIDUAL RISKS FUND

           Division 1 - Scheme manager

   12.     Appointment
   13.     Term of appointment
   14.     Remuneration and conditions
   15.     Resignation
   16.     Acting scheme manager
   17.     Preservation of rights
   18.     Relationship with State
   19.     Finance
   20.     Not statutory body for particular Acts
   21.     Functions
   22.     Powers
   23.     Staff services from department

           Division 2 - Scheme fund and cash surety account

   24.     Establishment of scheme fund
   25.     Cash surety account

           Division 3 - Residual risks fund

   25A.    Establishment of residual risks fund

   PART 3 - OPERATION OF SCHEME

           Division 1 - Risk category allocation

              Subdivision 1 - Initial allocation

   26.     Application of subdivision
   27.     Scheme manager must make initial risk category allocation
   28.     Scheme manager must notify holder of indicative risk category allocation
   29.     When indicative risk category allocation becomes the initial risk category allocation
   30.     Period for making initial risk category allocation
   31.     Notice of initial risk category allocation

              Subdivision 2 - Changed holder review allocation

   31A.    Meaning of changed holder event
   32.     Scheme manager may review risk category allocation if changed holder
   33.     Application to scheme manager if proposed changed holder
   34.     Scheme manager must notify interested entity of indicative changed holder review allocation
   35.     When indicative changed holder allocation becomes the changed holder review allocation
   36.     Notice of changed holder review allocation
   37.     When changed holder review decision takes effect

              Subdivision 3 - Annual review allocation

   38.     Annual review of risk category allocation
   39.     Scheme manager must notify holder of indicative annual review allocation
   40.     When indicative annual review allocation becomes the annual review allocation
   41.     Notice of annual review allocation

              Subdivision 4 - Information disclosure

   42.     Holder must give scheme manager notice if changed holder
   43.     Holder must give scheme manager notice if cessation in production
   44.     Scheme manager may require further information from holder before allocation decision
   45.     Scheme manager may require further information from interested entity before changed holder review decision

           Division 2 - Liability under scheme

              Subdivision 1 - Contribution to scheme fund

   46.     Application of subdivision
   47.     Holder must pay contribution to scheme fund
   48.     Rate of contribution if holder not able to give surety
   49.     Holder must pay contribution and give surety if estimated rehabilitation cost more than fund threshold
   50.     Refund of contribution to previous holder
   51.     Recovery of unpaid contribution
   52.     Notification of administering authority

              Subdivision 2 - Surety

   53.     Application of subdivision
   54.     Scheme manager’s decision about financial viability of scheme fund
   55.     Holder must give surety
   56.     Form of surety
   57.     When holder must give increased surety
   58.     Release of surety
   59.     Notification of administering authority

              Subdivision 3 - Fees

   60.     Assessment fee
   61.     Administration fee for particular sureties
   62.     Recovery of unpaid fee

           Division 3 - Claiming financial provision

              Subdivision 1 - Payments from scheme fund

   63.     Application of subdivision
   64.     Requesting entity may ask for payment from scheme fund
   65.     Decision of scheme manager

              Subdivision 2 - Realising surety

   66.     Application of subdivision
   67.     Requesting entity may ask for realisation of surety
   68.     Realisation of surety
   69.     Replenishment of surety

           Division 4 - Guidelines and investigations

   70.     Guidelines
   73.     Investigation of actuarial sustainability of scheme

           Division 5 - (Repealed)

   PART 3A - ADMINISTRATION OF RESIDUAL RISKS FUND

   76A.    Application of part
   76B.    Requesting entity may ask for payment from residual risks fund
   76C.    Decision of scheme manager
   76D.    Guidelines
   76E.    Investigation of actuarial sustainability of residual risks fund

   PART 3B - EFFECT OF DECISIONS OF SCHEME MANAGER

   76F.    Application for judicial review of particular decisions
   76G.    Decisions of scheme manager otherwise final
   76H.    No stay of decisions

   PART 4 - OFFENCES AND PROCEEDINGS

   77.     False or misleading statements
   78.     False or misleading documents

   PART 5 - CONFIDENTIALITY

   79.     Definitions for part
   80.     Duty of confidentiality
   81.     Use or disclosure for authorised purpose
   82.     Disclosure to particular chief executives of departments to assist in performance of functions

   PART 6 - MISCELLANEOUS

   83.     Advisory committee
   83A.    Scheme manager to keep Minister informed
   83B.    Annual report
   84.     Delegation
   85.     Protection from liability
   86.     Approved forms
   87.     Regulation-making power
   88.     (Expired)

   PART 7 - TRANSITIONAL PROVISIONS

   89.     Application of part
   90.     Financial assurance taken to be surety given under this Act
   91.     Initial allocation decision not required until scheme manager gives transition notice
   92.     Scheme manager may require further information from holder before allocation decision
           SCHEDULE 1


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