Document ID: chunk:federal_register_of_legislation:C2014C00179:clause:3_571:p2
Version: federal_register_of_legislation:C2014C00179
Segment Type: clause
Provision Reference: sch 3 cl 571 (pt 2/2)
Character Range: 77795–79063

deposit of an amount as security with a financial institution;
 (e) an indemnity or other surety;
 (f) a letter of credit from a financial institution;
 (g) a mortgage.
 (5) In this section:
environment plan for a petroleum activity means an environment plan for the activity under the Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2009.
Note: Environment plans are dealt with in Part 2 of these Regulations.
financial institution has its ordinary meaning, and (to avoid doubt) includes:
 (a) an authorised deposit‑taking institution within the meaning of the Banking Act 1959; and
 (b) a financial institution of a foreign country.
petroleum activity has the same meaning as in the Offshore Petroleum and Greenhouse Gas Storage (Environment) Regulations 2009.
self‑insurance: for a petroleum activity in relation to a title, the titleholder maintains financial assurance in the form of self‑insurance to the extent that the titleholder ensures that financial resources are available at all times while the title is in force to meet costs, expenses and liabilities in relation to the activity arising as mentioned in subsection (2).
titleholder, for a title in relation to which this section applies, means the registered holder of the title.