Queensland Numbered Acts

MINERAL AND ENERGY RESOURCES (FINANCIAL PROVISIONING) ACT 2018 - SECT 11

11 What is the fund threshold

(1) The
"fund threshold" is—

(a) the amount prescribed by regulation for this paragraph; or

(b) if no amount is prescribed under paragraph (a)—$450,000,000.

(2) Before recommending to the Governor in Council that an amount be prescribed under subsection (1)(a), the Minister must have regard to—

(a) the percentage of the State’s total estimated rehabilitation cost that the amount represents; and

(b) the effect of the percentage under paragraph (a) on the financial viability of the scheme fund; and

(c) if the actuarial sustainability of the scheme has been investigated under section 73—the actuary’s opinion, and the scheme manager’s recommendation, about whether the fund threshold should be changed.