41GConsiderations for deciding on outgoing guarantee

1. When considering whether to require an outgoing guarantee, and the nature and extent of an outgoing guarantee, the Ministers may consider anything that the Ministers think relevant to the decision, including (for example) the following considerations:

2. the permit’s or licence’s proximity in time to the date of decommissioning:
3. the permit’s or licence’s current level of reserves and production forecast:
4. the estimated cost of decommissioning and the extent to which existing and proposed financial security arrangements will cover the cost of decommissioning:
5. the circumstances of the current, incoming, and outgoing interests in the permit or licence:
6. any information relating to current or emerging risks to the permit holder’s or licence holder’s ability to meet its decommissioning obligation under this Act (including risks to the financial security arrangement or the existence of any other outgoing guarantees provided to the Crown):
7. the circumstances of the outgoing person and the extent of its past interest and future interest (if any) in the permit or licence (for example, the length of time it has had an interest, how much of the permit its interest relates to, and the extent of its commercial gain from the permit or licence).