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Offshore Renewable Energy Bill

Regime for offshore renewable energy permits and infrastructure protection - Provisions relating to both feasibility permits and commercial permits - Permit transfers and changes in significant influence

43: When transfer takes effect

You could also call this:

"When a permit transfer is officially approved and takes effect"

Illustration for Offshore Renewable Energy Bill

If you want to transfer a permit, the Minister will tell you when it takes effect. The Minister will send you a written notice with the date, but only if the person you are transferring to has set up the right financial security arrangement, as mentioned in section 42(3)(c)(ii). When the transfer takes effect, the person who originally held the permit is no longer responsible for the financial security.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1002794.

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42: Transfer of permit requires Minister’s approval, or

"To transfer a permit, you must get the Minister's approval first."

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Part 2Regime for offshore renewable energy permits and infrastructure protection
Provisions relating to both feasibility permits and commercial permits: Permit transfers and changes in significant influence

43When transfer takes effect

  1. A transfer takes effect on the date specified by the Minister by written notice to the applicant, provided that the proposed transferee has put in place the acceptable financial security arrangement referred to in section 42(3)(c)(ii).

  2. The transferor is released from their financial security obligation once the transfer takes effect.