CONTAMINATED LAND MANAGEMENT ACT 1997 - SECT 42D
Amount of financial assurance
CONTAMINATED LAND MANAGEMENT ACT 1997 - SECT 42D
Amount of financial assurance
42D Amount of financial assurance
(1) The amount of a financial assurance is to be as determined by the EPA.
(2) However, the EPA must not require a financial assurance of an amount that
exceeds the total cost of carrying out the action.
(2A) For the purposes of
subsection (2), the total cost is the amount that, in the EPA's opinion,
represents a reasonable estimate of the total likely costs and expenses that
may be incurred in carrying out the action, including the likely costs and
expenses of the EPA in directing and supervising the carrying out of the
action.
(3) The EPA may require the person who is required to provide a
financial assurance to provide to the EPA an independent assessment of the
cost of the relevant action for which the assurance is required.
