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Crown Minerals Act 1991

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

89ZJ: Minister must notify outcome of financial capability assessment

You could also call this:

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

Illustration for Crown Minerals Act 1991

The Minister has to tell you the result of a financial capability assessment as soon as they can after it is finished. This assessment is done under section 89ZG. The Minister will tell you if they think you have enough money to pay for decommissioning and why they think that. They will also give you the reasons for 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=LMS622927.

Topics:
Environment and resources > Conservation
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Part 1BPermits, access to land, and other matters
Decommissioning of petroleum infrastructure and wells: Financial capability assessments

89ZJMinister must notify outcome of financial capability assessment

  1. As soon as practicable after a financial capability assessment under section 89ZG is completed, the Minister must notify the permit holder or licence holder of—

  2. the Minister’s conclusion as to whether they are highly likely to have the financial capability to carry out and meet the costs of decommissioning; and
    1. the reasons for that conclusion.

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