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Crown Minerals Act 1991

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

89ZP: Minister must notify required or permitted changes to financial security arrangement

You could also call this:

"Minister tells you about needed changes to your money guarantee."

Illustration for Crown Minerals Act 1991

The Minister has to tell you if you need to make changes to your financial security arrangement. This happens after the Minister uses certain powers under section 89ZO(1)(a) or (b). You will get a written notice that says what changes you must or can make and when you need to make them.

The Minister also has to give you reasons why you need to make these changes. You will get these reasons with the notice.

The notice is about the financial security arrangement talked about in section 89ZN(1).

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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=LMS623080.

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89ZO: Alteration of 1 or more elements of financial security arrangement, or

"The Minister can ask you to change parts of your financial security arrangement at any time."

Next

89ZQ: Permit holder or licence holder may object to required financial security arrangement or required change to that arrangement, or

"You can disagree with a financial security arrangement or change within 30 working days"

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

89ZPMinister must notify required or permitted changes to financial security arrangement

  1. The Minister must, after exercising a power under section 89ZO(1)(a) or (b), give the affected permit holder or licence holder written notice of the required or permitted changes to the financial security arrangement referred to in section 89ZN(1) and the time by which the permit holder or licence holder must or may make these changes (as the case requires).

  2. The notice must be accompanied by reasons for the required or permitted change.

Notes
  • Section 89ZP: replaced, on , by section 54 of the Crown Minerals Amendment Act 2025 (2025 No 40).