Queensland Numbered Acts

MINERAL AND ENERGY RESOURCES (FINANCIAL PROVISIONING) ACT 2018 - SECT 49

49 Holder must pay contribution and give surety if estimated rehabilitation cost more than fund threshold

(1) This section applies if the estimated rehabilitation cost for the authority is more than the fund threshold.

(2) Despite section 47(2), the contribution payable must be worked out using the formula—
C = A x B
where—

"A"
"" is the fund threshold.

"B" is the prescribed percentage for the authority.

"C" is the amount of the contribution.

(3) In addition to paying the contribution worked out under subsection (2), the holder of the authority must give a surety for the amount that equals the estimated rehabilitation cost for the authority less the fund threshold.