Crown Minerals Act 1991

Permits, access to land, and other matters - Decommissioning of petroleum infrastructure and wells - Ongoing monitoring of financial position

89ZF: Permit and licence holders must provide information needed to monitor financial position

You could also call this:

"Permit holders must share financial info with the government"

Illustration for Crown Minerals Act 1991

If you have a permit or licence under the Crown Minerals Act 1991, you must keep a record of certain information. This information is about your financial position, including any financial securities you have. You need to keep this record so the Minister can monitor your financial situation.

You must give a copy of this information to the Minister at certain times or when they ask for it. The Minister might ask you for more information if they need it. You will get a written notice telling you what information to provide and how to give it to the Minister.

You must provide the extra information to the Minister in the way they ask for it and within a reasonable time. The Minister can ask you for this information so they can keep an eye on your financial position, especially if you have to pay for decommissioning costs.

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This page was last updated on 14 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS622873.

Topics:

Environment and resources > Farming and fishing

89ZE: Decommissioning completion report, or

"Tell the boss when you've finished decommissioning something and send a report with the required information."

89ZG: Minister may assess financial capability to meet decommissioning obligations, or

"Minister checks if you have enough money to cover cleanup costs"

Part 1BPermits, access to land, and other matters
Decommissioning of petroleum infrastructure and wells: Ongoing monitoring of financial position

89ZFPermit and licence holders must provide information needed to monitor financial position

A permit holder or licence holder (A) who is, or will be, obliged, under this subpart, to carry out and meet the costs of decommissioning must keep a record of any information prescribed by regulations as relevant and reasonably necessary to enable the Minister to monitor A’s financial position (including in relation to financial securities).
A must submit a copy of the information to the Minister—
at the prescribed times (if any); or
on request from the Minister, within any reasonable time specified in the request.

The Minister may, by written notice, require the person to provide any further information that the Minister considers relevant and reasonably necessary.
The person must provide a copy of the information to the Minister—
in the form and in the manner set out in the notice; and
within any reasonable time specified in the notice requiring the information.

Notes

Section 89ZF: inserted, on 2 December 2021, by section 18 of the Crown Minerals (Decommissioning and Other Matters) Amendment Act 2021 (2021 No 53).