GREENHOUSE GAS GEOLOGICAL SEQUESTRATION ACT 2008 - SECT 174 Payment of long-term monitoring and verification costs

GREENHOUSE GAS GEOLOGICAL SEQUESTRATION ACT 2008 - SECT 174

    (1)     If the Minister consents to the surrender of an injection and monitoring licence, the licence holder must, before surrendering the licence, pay the remaining cost of carrying out long-term monitoring and verification as detailed in the long-term monitoring and verification plan approved under section 170(2) and which has not already been paid in accordance with section 112.

    (2)     If the licence holder has paid more than the cost estimated in the long-term monitoring and verification plan, the licence holder is entitled to a refund of the difference between the amount paid and the cost estimated in the approved plan.