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ENVIRONMENTAL PROTECTION ACT 1994 - SECT 308
Requirement to give financial assurance for environmental authority
308 Requirement to give financial assurance for environmental authority
(1) The administering authority may impose a condition on an environmental
authority that the holder must not carry out, or allow the carrying out of, a
relevant activity under the authority unless the holder has paid a financial
assurance to the administering authority under this division.
(2) The
condition may require the financial assurance to be given as security for—
(a) compliance with the environmental authority; and
(b) costs and expenses,
or likely costs and expenses, mentioned in section 316C .
(3) However, the
administering authority may impose the condition only if it is satisfied the
condition is justified having regard to— (a) the degree of risk of
environmental harm being caused, or that might reasonably be expected to be
caused, by the relevant activity; and
(b) the likelihood of action being
required to rehabilitate or restore and protect the environment because of
environmental harm being caused by the activity; and
(c) the environmental
record of the holder.
(4) The administering authority may require a financial
assurance to remain in force until it is satisfied no claim is likely to be
made on the assurance.
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