31 Compliance with rehabilitation plans attachment paragraph 16) (Board’s The licensee is currently in compliance with its obligations under the approved rehabilitation plan, as varied from time to time. Purpose of rehabilitation bond attachment paragraph 14) (Board’s In order to mitigate the risk of a licensee failing to comply with their obligation to rehabilitate land the MR(SD) Act empowers the Minister: to determine the amount of a rehabilitation bond;and to require a licensee to assess their rehabilitation liability for the purpose of determining the quantum of a rehabilitation bond. The then licensee paid a rehabilitation bond of $15,000,000 to the Minister in May 1996. It was registered on 4 October 1996. This was determined at the time of privatisation. Based upon my searches so far, I do not have any information as to how this sum was calculated. Now produced and shown to me and marked is a true copy of the ‘KAW-24’ registration of rehabilitation bond registered on 4 October 1996 []. This amount was re-affirmed on 8 June 2001. Now produced and shown to me and marked is a true copy of the ‘KAW-25’ registration of rehabilitation bond dated 8 June 2001 []. Were the licensee to default on their obligations under the approved rehabilitation plan then the bond would be applied to the cost of rehabilitating the mine in accordance with the plan.If, however, the licensee were to comply with their obligations under the MR(SD) Act and the rehabilitation plan upon closure of Hazelwood mine then the rehabilitation bond would be returned to them. MR(SD) Act, s 80(1). MR(SD) Act, s 79A(1). MR(SD) Act, ss 82(1) and 83(4). MR(SD) Act, s 82(1).
31 Compliance with rehabilitation plans (Board’s attachment paragraph 16) The licensee is currently in compliance with its obligations under the approved rehabilitation plan, as varied from time to time. Purpose of rehabilitation bond (Board’s attachment paragraph 14) In order to mitigate the risk of a licensee failing to comply with their obligation to rehabilitate land the MR(SD) Act empowers the Minister: to determine the amount of a rehabilitation bond;and to require a licensee to assess their rehabilitation liability for the purpose of determining the quantum of a rehabilitation bond. The then licensee paid a rehabilitation bond of $15,000,000 to the Minister in May 1996. It was registered on 4 October 1996. This was determined at the time of privatisation. Based upon my searches so far, I do not have any information as to how this sum was calculated. Now produced and shown to me and marked ‘KAW-24’ is a true copy of the registration of rehabilitation bond registered on 4 October 1996 []. This amount was re-affirmed on 8 June 2001. Now produced and shown to me and marked ‘KAW-25’ is a true copy of the registration of rehabilitation bond dated 8 June 2001 []. Were the licensee to default on their obligations under the approved rehabilitation plan then the bond would be applied to the cost of rehabilitating the mine in accordance with the plan.If, however, the licensee were to comply with their obligations under the MR(SD) Act and the rehabilitation plan upon closure of Hazelwood mine then the rehabilitation bond would be returned to them. MR(SD) Act, s 80(1). MR(SD) Act, s 79A(1). MR(SD) Act, ss 82(1) and 83(4). MR(SD) Act, s 82(1).
White-Statement-VGSO.0004.006.0001.docx