EK 4Environmental restoration account

1. The Commissioner must keep an environmental restoration account in the name of every person who makes a payment to the Commissioner under section EK 2.

2. Every payment under section EK 2 that a person makes to the Commissioner must be entered in the person’s environmental restoration account.

3. The only amounts that may be entered in a person’s environmental restoration account are—

4. payments made by the person to the Commissioner under section EK 2:
5. transfers made to the account under subsection (6):
6. interest paid under section EK 6.

7. An amount entered in a person’s environmental restoration account may not, while in the account,—

8. be assigned or charged in any way:
9. pass by operation of law to, or into the custody or control of, someone else, except when the person is bankrupt or has been put into liquidation:
10. be an asset for the payment of the person’s debts or liabilities, except when the person is bankrupt or has been put into liquidation:
11. be an asset for the payment of the debts or liabilities of a dead person’s estate.

12. An amount entered in a person’s environmental restoration account may not be removed from the environmental restoration account except by a refund under section EK 9 or EK 12 or by a transfer under subsection (6).

13. An amount may be transferred from the environmental restoration account of a person—

14. to an environmental restoration account of a person to whom the amount has been transferred under section EK 15 or EK 16(3)(b):
15. to the department that is at the time responsible for administering the Environment Act 1986, if the amount has been transferred under section EK 16(3)(a):
16. to an environmental restoration account of an amalgamated company to which the amount has been transferred under section EK 19.

17. The Commissioner may close an environmental restoration account of a person if the amount in the environmental restoration account is zero.

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• 2004 No 35 s EK 4