OFFSHORE MINERALS ACT 1994 - SECT 298 Amendment of security requirements

OFFSHORE MINERALS ACT 1994 - SECT 298

  (1)   If the licence holder:

  (a)   has been provisionally granted a renewal of the licence under section   294 or 295; and

  (b)   is notified of a security requirement; and

  (c)   is dissatisfied with the amount of security required;

the holder may ask the Joint Authority to make a new determination under section   399.

  (2)   The request must:

  (a)   be made within 30 days after the day on which the holder is given notice under section   296; and

  (b)   be lodged with the Designated Authority.

  (3)   If the Joint Authority is given a request under subsection   ( 1), the Authority may make a new determination under section   399.

  (4)   The Designated Authority must give the holder written notice of the new determination.