PETROLEUM ACT 1998 - SECT 174 Minister may require increased rehabilitation bond

PETROLEUM ACT 1998 - SECT 174

    (1)     This section applies if the Minister believes that the amount secured by a rehabilitation bond in relation to a petroleum operation is insufficient.

    (2)     The Minister may, by written notice, require the holder of the authority to obtain an extension of, or a further, rehabilitation bond for an amount determined by the Minister.

    (3)     Before making a requirement, the Minister must consult the holder of the authority.

    (4)     The holder of the authority must comply with a notice imposing such a requirement within 30 days after being given the notice.

Penalty:     120 penalty units.