Water Management (General) Regulation 2018
32 Security for fulfilment of obligations under approvals
(1) An approval may be granted subject to a condition to the effect that, before commencing the construction of any work or the carrying out of any activity, the holder of the approval must provide the Minister with security for the cost of performing the holder’s obligations under the approval in the event that the holder fails to perform those obligations.(2) The security is to be for such reasonable amount as is determined by the Minister and specified in the condition as to security.(3) The security may be provided, at the choice of the holder, by way of a deposit with the Minister (a security deposit) or a guarantee satisfactory to the Minister.(4) The Minister may retain a security deposit until satisfied that the holder of the approval has fulfilled the holder’s obligations under the approval.(5) A security deposit may be paid out, or a guarantee may be enforced, to meet the cost of performing the holder’s obligations under the approval. Any balance of a security deposit remaining is to be refunded to, or at the direction of, the person who provided the security, together with any interest accrued on the deposit as a consequence of its investment.(6) Obligations under an approval that are required to be fulfilled after the period for which the approval remains in force do not cease merely because the approval ceases to be in force.(7) A security deposit may be retained and dealt with under this clause, and a guarantee may be enforced, even though the approval is no longer in force.(8) A person who has deposited an amount under this clause is entitled to a refund of the amount together with any interest accrued on the deposit as a consequence of its investment (less any amount paid out under this clause) if the person makes a written request to the Minister that satisfies the Minister that all obligations under the approval have been fulfilled.