Queensland Consolidated Regulations

GEOTHERMAL ENERGY REGULATION 2022 - REG 51

51 Security for geothermal tenure—Act, s 204

(1) For section 204 (2) (a) of the Act , the following forms of security are prescribed—

(a) cash, including an electronic funds transfer of cash;

(b) an unconditional security issued by a financial institution that—

(i) is in favour of the ‘State of Queensland’ and is payable on demand; and

(ii) has no expiry date; and

(iii) states the type and number of the geothermal tenure or proposed geothermal tenure; and

(iv) states the address of the financial institution; and

(v) is signed by an officer of the financial institution who has authority to sign the security;

(c) a combination of the forms mentioned in paragraphs (a) and (b) .

(2) For section 204 (2) (b) of the Act , the following amounts are prescribed—

(a) for a geothermal permit or proposed geothermal permit—$14,748;

(b) for a geothermal lease or proposed geothermal lease—$43,017.