Part 7 Coastal tendering
165Tender money
Where a person to whom an authorisation has been granted forwarded an initial payment to the Minister pursuant to section 158(2), the money shall be the property of the Crown, and, on granting the authorisation, the Minister shall cause that money to be paid into a Crown Bank Account in accordance with the Public Finance Act 1989.
Where an authorisation granted to a person to whom subsection (1) applies has lapsed pursuant to section 164, the Minister shall cause 80% of the initial payment to be refunded to that person from a Crown Bank Account.
Where any tenderer who has failed to obtain an authorisation forwarded an initial payment to the Minister pursuant to section 158(2), the Minister shall as soon as practicable cause that money to be refunded to that tenderer.
Notes
- Section 165(1): amended, on , pursuant to section 65R(3) of the Public Finance Act 1989 (1989 No 44).
- Section 165(2): amended, on , pursuant to section 65R(3) of the Public Finance Act 1989 (1989 No 44).