Crown Minerals Act 1991

Permits, access to land, and other matters - Decommissioning of petroleum infrastructure and wells - Financial capability assessments

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

You could also call this:

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

Illustration for Crown Minerals Act 1991

The Minister can check if you have enough money to pay for decommissioning costs when your permit or licence is in force. You will need to pay for decommissioning if you hold a permit or licence under this law. The Minister can do this check at any time while your permit or licence is in force.

The Minister can ask someone else to do the check for them if they want to. This check is called a financial capability assessment.

The Minister is doing this to see if you are likely to have enough money 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=LMS622877.

Topics:

Environment and resources > Conservation

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

"Permit holders must share financial info with the government"

89ZH: Criteria for considering whether to carry out financial capability assessment, or

"How the Minister decides if they need to check if you can afford to do what you promised."

Part 1BPermits, access to land, and other matters
Decommissioning of petroleum infrastructure and wells: Financial capability assessments

89ZGMinister may assess financial capability to meet decommissioning obligations

This section applies to 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.
The Minister may carry out an assessment to determine whether A is highly likely to have the financial capability to carry out and meet the costs of decommissioning (a financial capability assessment).
The Minister may carry out a financial capability assessment at any time while the relevant permit or licence is in force.
The Minister may appoint any suitably qualified person to carry out a financial capability assessment on their behalf.

Notes

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