Document ID: chunk:federal_register_of_legislation:C2024C00828:section:401
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 401
Character Range: 1142442–1143827

401  Commonwealth to assume long‑term liability if licensee has ceased to exist

Scope
 (1) This section applies if:
 (a) a site closing certificate is in force in relation to an identified greenhouse gas storage formation; and
 (b) when the application for the certificate was made, the formation was specified in a greenhouse gas injection licence; and
 (c) there is a closure assurance period in relation to the formation; and
 (d) a person who has been the registered holder of the licence (whether or not the licence is in force) has ceased to exist; and
 (e) if the person had continued in existence, the following conditions would have been satisfied in relation to a liability of the person:
 (i) the liability is a liability for damages;
 (ii) the liability is attributable to an act done or omitted to be done in the carrying out of operations authorised by the licence in relation to the formation;
 (iii) the liability is incurred or accrued after the end of the closure assurance period in relation to the formation;
 (iv) such other conditions (if any) as are specified in the regulations; and
 (f) apart from this section, the damages are irrecoverable because the person has ceased to exist.

Commonwealth to assume liability
 (2) The liability is taken to be a liability of the Commonwealth.

Part 3.5—Greenhouse gas search authorities

Division 1—General provisions