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Mackenzie Valley Land Use Regulations

Version of section 32 from 2013-09-30 to 2016-06-12:

  •  (1) The Board may require security to be posted in an amount not exceeding the aggregate of the costs of

    • (a) abandonment of the land-use operation;

    • (b) restoration of the site of the land-use operation; and

    • (c) any measures that may be necessary after the abandonment of the land-use operation.

  • (2) In setting the amount of security pursuant to subsection (1), the Board may consider

    • (a) the ability of the applicant or prospective assignee to pay the costs referred to in that subsection;

    • (b) the past performance of the applicant or prospective assignee in respect of any other permit;

    • (c) the prior posting of security by the applicant pursuant to other federal legislation in relation to the land-use operation; and

    • (d) the probability of environmental damage or the significance of any environmental damage.

  • (3) Where the Board requires that a security deposit be posted, the permittee shall not begin the land-use operation until the security has been deposited with the federal Minister.

  • (4) Posted security may be in the form of

    • (a) a promissory note guaranteed by a bank listed in Schedule I or II to the Bank Act and made payable to the Receiver General;

    • (b) a certified cheque drawn on a bank listed in Schedule I or II to the Bank Act and made payable to the Receiver General;

    • (c) a performance bond approved by the Treasury Board for the purposes of paragraph (c) of the definition security deposit in section 2 of the Government Contracts Regulations;

    • (d) an irrevocable letter of credit from a bank listed in Schedule I or II to the Bank Act; or

    • (e) a cash payment.

  • (5) Posted security, or any remaining portion thereof, shall be returned to the permittee by the federal Minister after the Board issues a letter of clearance under section 33 in respect of the land-use operation.

  • SOR/2013-166, s. 18

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