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ENVIRONMENTAL PROTECTION ACT 1994 - SECT 757
Applications for decision about amount and form of financial assurance
757 Applications for decision about amount and form of financial assurance
(1) This section applies in relation to an environmental authority for a
resource activity if, before the commencement, the administering authority had
not given the holder of the environmental authority a notice under the
pre-amended Act, section 296 about the amount and form of financial assurance
required under a condition of the environmental authority.
(2) The
pre-amended Act, chapter 5, part 12, division 2, subdivision 2 continues to
apply in relation to the environmental authority as if the amending Act had
not commenced.
(3) Despite subsection (2), the administering authority
must— (a) transfer to the scheme manager any financial assurance for the
resource activity that is given in cash to the authority after the
commencement; and
(b) take all necessary steps to transfer to the scheme
manager any instruments or other forms of financial assurance in relation to
the resource activity that are given to the authority after the commencement.
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