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Crown Minerals Act 1991

Permits, access to land, and other matters - Decommissioning of petroleum infrastructure and wells - Decommissioning obligations for petroleum infrastructure

89L: Further obligations on transferees and Minister

You could also call this:

"Rules for buying a licence or permit from someone else, including having a good financial plan"

Illustration for Crown Minerals Act 1991

When you want to buy a licence or part of a permit from someone else, this law applies to you and the Minister. The Minister must make sure you have a good financial plan in place before they agree to the transfer. This plan must be in place within a certain time and last for a certain time.

The Minister can choose how they want to check your financial plan. Your financial plan can also be used to meet the requirements of section 89T(3). The Minister has to be satisfied with your plan before they agree to the transfer.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS622297.

Topics:
Business > Industry rulesEnvironment and resources > Conservation
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89K: Obligations of licence holders: decommissioning of petroleum infrastructure, or

"Clean up rules for people with petroleum licences"

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89M: Extent of liability of former permit and licence holders under sections 89J(2) and 89K(2), or

"What former permit and licence holders are responsible for under the Crown Minerals Act"

Part 1BPermits, access to land, and other matters
Decommissioning of petroleum infrastructure and wells: Decommissioning obligations for petroleum infrastructure

89LFurther obligations on transferees and Minister

  1. This section applies to—

    1. a person (person B) who intends to acquire, on or after commencement from person A, a licence or all or any part of a participating interest in a permit or licence; and
      1. the Minister.

        1. Repealed

        2. The Minister must, when considering whether to consent to the transfer of a licence or participating interest in a permit or a licence to person B, and before consenting to the transfer, be satisfied that an acceptable financial security arrangement (whether existing, altered, or new) is or will be in place within the time specified by the Minister and will be maintained for a time specified by the Minister if the Minister consents to the transfer.

        3. The Minister may adopt any process the Minister considers appropriate for the purpose of carrying out their duties under subsection (3).

        4. An acceptable financial security arrangement referred to in subsection (3) may also be designed and operate to satisfy the requirements of section 89T(3).

        5. Repealed
        Notes
        • Section 89L: inserted, on , by section 18 of the Crown Minerals (Decommissioning and Other Matters) Amendment Act 2021 (2021 No 53).
        • Section 89L heading: amended, on , by section 45(1) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(1)(a): repealed, on , by section 45(2) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(2): repealed, on , by section 45(3) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(3): replaced, on , by section 45(4) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(3A): inserted, on , by section 45(4) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(4): amended, on , by section 45(5) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89L(5): repealed, on , by section 45(6) of the Crown Minerals Amendment Act 2025 (2025 No 40).