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Crown Minerals Act 1991

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

89T: Further obligations on transferees and Minister

You could also call this:

"Rules for buying a licence or permit from someone else"

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 check that you have a good financial plan in place before they agree to the transfer. The Minister decides what a good financial plan is and how long it must last.

The Minister can use any process they think is suitable to do their job. Your financial plan might also need to meet the requirements of section 89L(3). This means your plan must be good enough for both this law and the other law.

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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=LMS622415.

Topics:
Environment and resources > Conservation
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89S: Obligations of licence holders: decommissioning of wells, or

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89U: Extent of liability of former permit and licence holders under sections 89R and 89S, or

"What happens to people who used to hold mining permits or licences when it comes to cleaning up wells"

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

89TFurther 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 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 Repealed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 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 89L(3).

        5. Repealed
        Notes
        • Section 89T: inserted, on , by section 18 of the Crown Minerals (Decommissioning and Other Matters) Amendment Act 2021 (2021 No 53).
        • Section 89T heading: amended, on , by section 50(1) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(1)(a): repealed, on , by section 50(2) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(1)(c): inserted, on , by section 50(3) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(2): repealed, on , by section 50(4) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(3): replaced, on , by section 50(5) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(3A): inserted, on , by section 50(5) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(4): amended, on , by section 50(6) of the Crown Minerals Amendment Act 2025 (2025 No 40).
        • Section 89T(5): repealed, on , by section 50(7) of the Crown Minerals Amendment Act 2025 (2025 No 40).