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Crown Minerals Act 1991

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

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

You could also call this:

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

Illustration for Crown Minerals Act 1991

When the Minister is thinking about doing a financial capability assessment, they can look at information they got from you under sections like section 89ZG. They can also consider the circumstances of the permit or licence holder. The Minister can think about any risks that might affect your ability to do what you are supposed to do. They can look at any other information they think is relevant to making their decision.

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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=LMS622879.

Topics:
Environment and resources > Conservation
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89ZG: Minister may assess financial capability to meet decommissioning obligations, or

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

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89ZI: Process for carrying out financial capability assessment, or

"How the Minister checks if someone can afford to manage a mining project"

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

89ZHCriteria for considering whether to carry out financial capability assessment

  1. When considering whether to carry out a financial capability assessment under section 89ZG, the Minister may take into account—

  2. information received under the following:
    1. section 42B (field development plan):
      1. section 89ZB (decommissioning plan):
        1. section 89ZC (decommissioning cost estimate):
          1. section 89ZD (asset register):
            1. section 89ZF (information needed to monitor financial position); and
            2. the circumstances of the particular permit holder or licence holder; and
              1. any information relating to current or emerging risks to the permit holder’s or licence holder’s ability to comply with their obligations under this subpart; and
                1. any other matters the Minister considers relevant.

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