New South Wales Consolidated Acts

MINING ACT 1992 - SECT 242C

242C Derelict Mine Sites Fund

(1) There is established in the Special Deposits Account the Derelict Mine Sites Fund.

(2) Money in the Fund is under the control of the Director-General and may be spent by the Director-General only for the purposes authorised by this section.

(3) There is to be paid into the Fund:

(a) the balance of any money received from the sale of mining plant under section 246A after all deductions have been made in accordance with that section, and

(b) the proceeds of investment of money in the Fund, and

(c) money obtained under a security deposit that is payable into the Fund under section 261F or 261G, and

(d) any other money that is appropriated by Parliament for the purposes of the Fund, that is required by law to be paid into the Fund or that the Minister has approved being paid into the Fund.

(4) Subject to the regulations, there may be paid out of the Fund:

(a) compensation payable to a landholder under section 242B, and

(b) any other costs associated with the rehabilitation of derelict mine sites under this Division, as determined by the Director-General.