Plain language law

New Zealand law explained for everyone

Crown Minerals Act 1991

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

89ZI: Process for carrying out financial capability assessment

You could also call this:

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

Illustration for Crown Minerals Act 1991

When you are doing a financial capability assessment under section 89ZG, the Minister can look at information from several places. The Minister can consider information from things like field development plans, decommissioning plans, and decommissioning cost estimates. The Minister can also look at information from asset registers and details needed to monitor financial performance.

The Minister can look at any other information they think is relevant. The Minister must also follow any specific rules that are set. You can find more details about these rules in other parts of the legislation, such as section 42B, section 89ZB, section 89ZC, section 89ZD, and section 89ZF.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=LMS622924.

Topics:
Environment and resources > Farming and fishingBusiness > Industry rules
Previous

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."

Next

89ZJ: Minister must notify outcome of financial capability assessment, or

"Minister tells you if you have enough money for decommissioning costs"

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

89ZIProcess for carrying out financial capability assessment

  1. When carrying out a financial capability assessment under section 89ZG, the Minister—

  2. may take into account information received under the following:
    1. section 42B (field development plan):
      1. section 89ZB (subpart 2 decommissioning plan):
        1. section 89ZC (decommissioning cost estimate):
          1. section 89ZD (asset register):
            1. section 89ZF (information needed to monitor financial performance); and
            2. may take into account any other information the Minister considers relevant; and
              1. must meet the prescribed requirements (if any).

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