MINERAL RESOURCES DEVELOPMENT ACT 1995 - SECT 196 Use of security deposit
MINERAL RESOURCES DEVELOPMENT ACT 1995 - SECT 196
Use of security deposit
(1) The Minister may use any amount of a security deposit provided by a licensee or lessee for the following purposes:(a) to remedy any damage to private property if the licensee or lessee fails to pay compensation under Part 8 ;(ab) to provide for the costs of depositing with the Director any drill core or cutting that has not been deposited with the Director as required by or under this Act;(ac) to make safe any safety hazard caused by mining operations or exploration under a licence or lease held by the licensee or lessee;(b) to mitigate any damage to the environment caused by mining operations or exploration under a licence or lease held by the licensee or lessee.(2) The Minister may draw any amount of security deposit provided by a licensee if the licensee fails to carry out a work program in respect of the licence.