89ZMMatters Minister must take into account in determining acceptable financial security arrangement

1. The Minister must, when determining whether a financial security arrangement to be put in place and maintained by or on behalf of a permit holder or licence holder is acceptable, take into account—

2. the information (if any) provided by the permit holder or licence holder under section 89ZL(2)(b), and any proposal under section 89ZL(3):
3. the prescribed criteria (if any) relating to acceptable financial security arrangements including, without limitation, the following:
   1. particular kinds and amounts of financial security:
   2. any prescribed or preferred hierarchy of financial securities:
   3. whether there is a preferred kind of financial security in the particular situation:
   4. the permit holder or licence holder or other persons or classes of persons who may provide financial securities:
4. the following:
   1. the estimated cost of decommissioning:
   2. the extent to which the amount to be secured will cover the estimated cost of decommissioning:
   3. the extent to which the financial security arrangement to be put in place will ensure that the Crown will obtain payment of the amount in the event that the permit holder or licence holder fails to carry out the decommissioning or separately meet those costs:
5. the circumstances of the particular permit holder or licence holder:
6. the time needed for the particular permit holder or licence holder to comply with their obligations under this subpart, and the time when work will need to start in order to achieve this:
7. the estimated administration costs to the particular permit holder or licence holder or any other person of putting in place and maintaining the financial security arrangement for the required period:
8. 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:
9. the conclusions of the most recent financial capability assessment (if any):
10. any other matters the Minister considers relevant.

11. The Minister may, by notice, require a permit holder or licence holder to give the Minister any information that the Minister considers will assist the Minister in determining what is an acceptable financial security arrangement.

12. The permit holder or licence holder must provide the information referred to in subsection (2)—

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