MINING ACT 1992 - SECT 261B Security deposit conditions

MINING ACT 1992 - SECT 261B

261B Security deposit conditions

(1) A decision-maker may impose a condition on an authorisation that requires the holder of the authorisation to provide and maintain a security deposit to secure funding for the fulfilment of obligations under the authorisation, including obligations under the authorisation that may arise in the future.

(2) A condition may be imposed under this section--

(a) whether or not the land that is or may be affected by the activities the subject of the obligations or direction is or has at any time been an authorisation area, and

(b) whether or not the obligations relate to activities that were carried out by the current holder of the authorisation, and

(c) whether or not the obligations relate to activities that were authorised by the authorisation, and

(d) if the authorisation has been previously wholly or partly transferred, whether or not the obligations relate to activities carried out under the transferred authority.

(3) A security deposit condition may be varied to change the required amount of the deposit (whether the deposit was provided by the holder of the authorisation or by another person) or any other requirement of the condition.

(4) A security deposit condition may be imposed or varied--

(a) when an authorisation is granted or renewed, or

(b) when a full or partial transfer of an authority is approved under this Act, or

(c) when a mineral claim is transferred under this Act, or

(d) at any other time during the term of an authorisation.

(4A) A security deposit condition, or a variation to a security deposit condition, takes effect as follows--

(a) in the case of a security deposit condition imposed when an authorisation is granted--when the grant takes effect,

(b) in the case of a security deposit condition imposed or varied when an authorisation is renewed--when the renewal takes effect,

(c) in the case of a security deposit condition imposed or varied when a full or partial transfer of an authority is approved under this Act--when the transfer is registered under this Act,

(d) in the case of a security deposit condition imposed or varied when a mineral claim is transferred under this Act--when the mineral claim is transferred,

(e) in any other case--when written notice of the imposition or variation of the condition is served on the holder of the authorisation or on any later date specified in the notice.

(5) A security deposit condition may require--

(a) a single security deposit to be provided and maintained for more than 1 authorisation held by the same person, and

(b) the holder of 2 or more authorisations to cause a security deposit that has been provided and maintained for 1 authorisation to be extended to other authorisations held by the holder.

(6) To avoid doubt, a security deposit condition for a group security deposit may be varied at the request of the holder of the authorisation or on the decision-maker's initiative--

(a) to deal with a further authorisation, or

(b) to remove an authorisation from being the subject of the condition.

(7) This section does not affect the operation of the Environmental Planning and Assessment Act 1979 , section 4.42, 4.50 or 5.24.