PORTS AND MARITIME ADMINISTRATION ACT 1995 - SECT 71
Security for payment of charges
PORTS AND MARITIME ADMINISTRATION ACT 1995 - SECT 71
Security for payment of charges
71 Security for payment of charges
(1) As security for the payment of charges that have been or may be incurred
under this Part by a person, the relevant port authority may require the
person to lodge with it a security deposit.
(2) The security deposit may take
the form of cash or a guarantee from a bank, building society or credit union
or such other form as the relevant port authority may approve, and is to be in
or for an amount determined by the relevant port authority.
(3) The
relevant port authority may appropriate a security deposit or the proceeds of
a security deposit to meet liabilities of the depositor (including any
interest payable) under this Part that are unpaid after becoming due.
(4) In
the event that a security deposit or the proceeds of a security deposit have
been appropriated or partly appropriated, the relevant port authority may
require lodgment of further security.
(5) If at any time the
relevant port authority considers that a depositor's potential liabilities
under this Part should be more adequately guaranteed, the
relevant port authority may require the lodgment of security in a greater
amount, or in a different form, or both.
