Document ID: chunk:federal_register_of_legislation:F2025C00027:reg:112
Version: federal_register_of_legislation:F2025C00027
Segment Type: reg
Provision Reference: reg 112
Character Range: 175847–178081

112  Recovery of costs, expenses and liabilities from financial security
 (1) For the purposes of subsection 119(1) of the Act, if:
 (a) the Commonwealth or the Regulator reasonably incurs a cost, expense or liability in relation to a licence as a result of an act or omission of the licence holder; and
 (b) the cost, expense or liability is of a kind set out in the table in subsection (2) of this section; and
 (c) the cost, expense or liability is not a debt that:
 (i) is owed by the licence holder to the Commonwealth or the Regulator; and
 (ii) could be recovered by the Commonwealth under section 111 of this instrument if the conditions in paragraph 111(1)(c) or (2)(c) were satisfied; and
 (d) the licence holder has provided financial security in relation to the licence; and
 (e) the Minister is satisfied that:
 (i) the cost, expense or liability has not been recovered by the Commonwealth or the Regulator; and
 (ii) recovering the cost, expense or liability from the financial security is likely to be more economical than recovering the cost, expense or liability through other means;
the Commonwealth may recover the cost, expense or liability from the financial security.
Note 1: As the Registrar is part of the Commonwealth, this section may apply to costs, expenses or liabilities incurred by the Registrar.
Note 2: This section does not limit the means through which costs, expenses and liabilities may be recovered otherwise than from financial security.
 (2) For the purposes of paragraph (1)(b), the following table sets out kinds of costs, expenses and liabilities that may be recovered under this section.

Costs, expenses and liabilities that may be recovered from financial security
                                                                               Column 1                                                                                                                                                            Column 2

Item                                                                           General description                                                                                                                                                 Cost, expense or liability