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Crown Minerals Act 1991

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

89ZK: Relevant persons must provide supporting information

You could also call this:

"People involved must give extra information to help with financial checks"

Illustration for Crown Minerals Act 1991

When you are a permit or licence holder, you might need to have a financial capability assessment under section 89ZG. You are a relevant person if you hold a permit or licence, or if the Minister thinks you have information that is relevant and necessary for the assessment. This can include companies related to you, your bank, or your auditor.

You must keep a record of certain information that is prescribed by regulations, so the Minister can do the financial capability assessment. You need to provide a copy of this information to the Minister on time, or when they ask for it.

The Minister can ask you for more information if they need it, and you must provide it in the way and time they specify. If you give the Minister information, it is subject to the rules about disclosure of information under section 90A.

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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=LMS622929.

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

89ZKRelevant persons must provide supporting information

  1. This section applies to—

  2. a permit holder or licence holder who may be subject to a financial capability assessment under section 89ZG; and
    1. any other person the Minister considers is likely to hold information that is relevant and reasonably necessary to carry out the financial capability assessment (for example, parent companies, banks, or auditors).

      1. The person must keep a record of any information prescribed by regulations as relevant and reasonably necessary to enable the Minister to carry out a financial capability assessment.

      2. The person must provide a copy of the information to the Minister—

      3. on or before the prescribed time (if any); or
        1. on request from the Minister, within any reasonable time specified in the request.

          1. The Minister may, by written notice, require the person to provide any further information that the Minister considers relevant and reasonably necessary to carry out the financial capability assessment.

          2. The person must provide a copy of the information to the Minister—

          3. in the form and in the manner set out in the notice; and
            1. within any reasonable time specified in the notice requiring the information.

              1. To avoid doubt, information gathered under this section is subject to section 90A (disclosure of information).

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