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Crown Minerals Act (Decommissioning and Other Matters) Amendment Bill

Last updated: August 19, 2021

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Environment & Infrastructure

Crown Minerals Act (Decommissioning and Other Matters) Amendment Bill

Emily Calvert

Published: August 19, 2021

Submitting To: The Economic Development, Science and Innovation Select Committee

Issue for Business: Submission from BusinessNZ and BusinessNZ Energy Council The Bill introduces a number of new requirements for permit and licence holders including: Introducing a statutory obligation to decommission Introducing civil pecuniary and criminal penalties Introducing perpetual liabilities on former permit and licence holders Empowering minister to monitor financial positions Requiring financial securities Requiring payments towards a post-decommissioning fund This submission focuses on the perpetual liability issues created by holding permit and licence holders liable for decommissioning costs, even if they transfer out of a permit.

Action: Draft submission sent out 12 August for comments due 17 August. The submission closes on 19 August 2021.

Link to document [PDF]

Tags: Oil and Gas

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