89DInterpretation

1. In this subpart, unless the context otherwise requires,—

   acceptable financial security arrangement means a financial security arrangement that the Minister is satisfied operates in an acceptable way and provides an acceptable level of security, in accordance with sections 89ZL, 89ZM, and 89ZN, the regulations, and the relevant minerals programme, in relation to the performance of obligations imposed on persons under this subpart

   amount, in relation to a financial security, includes an obligation that is—

   1. unlimited; or
   2. quantified; or
   3. unquantified, but expressed to cover specified costs, losses, expenses, charges, or liabilities (whenever arising)

   commencement, in relation to any provision in this subpart, means the day on which that provision commences

   current licence holder means the holder of a licence that is in force

   current permit holder means the holder of a current permit

   financial security arrangement means 1 or more financial securities to secure the obligations imposed on persons under this subpart and may—

   1. include financial securities of the same kind or different kinds:
   2. relate to 1 permit or licence or more than 1 permit or licence, or both:
   3. be held by 1 or more permit or licence holders or permit participants or other persons:
   4. include any other variations relating to each financial security, comprised in the financial security arrangement, or the operation of each of those financial securities

   licence means a prospecting licence or a mining licence granted under Part 1 of the Petroleum Act 1937 to prospect or mine for petroleum

   permit means a permit to explore for petroleum or a petroleum mining permit granted under this Act

   petroleum infrastructure has the meaning set out in section 89F

   plugging and abandonment, in relation to a well, has the meaning set out in section 89Q

   well—

   1. means a borehole drilled or re-entered for the purposes of exploring for, appraising, or extracting petroleum; and
   2. includes—
      1. any borehole used for injection or reinjection purposes; and
      2. any down-hole pressure-containing equipment; and
      3. the wellhead; and
      4. any other prescribed thing

   wellhead means any pressure-containing equipment on top of the well.

2. To avoid doubt, subsection (3) applies if a person is required to comply with provisions that are expressed to apply to persons of a different status (for example, a person who, in order to obtain the Minister’s consent to the transfer of a participating interest in a permit or licence, is required to comply with provisions in this subpart (see sections 89L(3), 89T(3), and 89ZL to 89ZR), that relate to financial securities and that are expressed to apply only to a permit holder or licence holder).

3. If this subsection applies, the provisions that the person is required to comply with apply as if the person were a person to whom the provision is expressed to apply and with any other necessary modifications.