New South Wales Consolidated Regulations

WATER MANAGEMENT (GENERAL) REGULATION 2004 - REG 36

36 Security deposits

(1) An approval may be granted subject to a condition to the effect that, before commencing the construction of any work or the carrying out of any activity, the holder of the approval must provide the Minister with security for the cost of performing the holder’s obligations under the approval in the event that the holder fails to perform those obligations.

(2) The security is to be for such reasonable amount as is determined by the Minister and specified in the condition as to security.

(3) The security may be provided, at the choice of the holder, by means of a deposit with the Minister or a guarantee satisfactory to the Minister.

(4) Security provided by way of deposit may be paid out to meet the cost of performing the holder’s obligations under the approval.

(5) Any amount repaid to the applicant from a deposit is to be repaid together with any interest accrued as a consequence of its investment.