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ENVIRONMENTAL PROTECTION ACT 1994 - SECT 310
Deciding amount and form of financial assurance
310 Deciding amount and form of financial assurance
(1) The administering authority must decide the amount and form of financial
assurance required under a condition of an environmental authority.
(2) The
decision must be made within— (a) 10 business days after the application
made under section 309 is received by the administering authority; or
(b) if
a longer period is agreed to by the holder—the longer period.
(3) In making
the decision, the administering authority must have regard to the financial
assurance guideline.
(4) Despite subsections (1) and (3) , the administering
authority can not require financial assurance of an amount that exceeds the
amount representing the total likely costs and expenses that may be incurred
in carrying out rehabilitation of, or to restore and protect, the environment
because of environmental harm that may be caused by the prescribed ERA.
(5)
In this section—
"costs and expenses" includes costs and expenses for monitoring and
maintenance.
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