Australian Capital Territory Numbered Acts

BIOSECURITY ACT 2023 (NO. 50 OF 2023) - SECT 72

    (1)     The director-general may impose a condition on a biosecurity permit requiring the permit-holder to provide a financial assurance (a  financial assurance condition ) for anything required as a result of any of the following events (a  secured event ):

        (a)     the permit-holder failing to comply with another condition on their permit;

        (b)     the permit-holder giving any biosecurity matter that their permit authorises them to deal with, to the director-general;

        (c)     the permit-holder engaging in conduct that they are not authorised by the permit to engage in;

        (d)     the permit-holder no longer being authorised to engage in the conduct authorised by the permit;

        (e)     the permit-holder being unable, for any reason, to continue to engage in the conduct authorised by the permit.

    (2)     A financial assurance condition may require the permit-holder to provide evidence of the financial assurance to the director-general.

    (3)     A financial assurance condition may require financial assurance in 1 or more of the following forms:

        (a)     a bank guarantee;

        (b)     a bond;

        (c)     an insurance policy;

        (d)     a form prescribed by regulation;

        (e)     any other form the director-general considers appropriate.

    (4)     A financial assurance condition may provide for the following matters:

        (a)     how the amount of financial assurance is to be worked out;

        (b)     the circumstances in which the financial assurance may be claimed or realised, and the procedure for claiming or realising the financial assurance;

        (c)     actions that may be taken after a secured event, including—

              (i)     when stated actions may be taken by the director-general; and

              (ii)     when the director-general may enter premises to take stated actions;

        (d)     when stated information must be provided;

        (e)     auditing of actions that may result in the financial assurance being claimed or realised;

        (f)     the administration of the financial assurance;

        (g)     the release of the financial assurance.

    (5)     A financial assurance may be claimed and realised, despite and without affecting—

        (a)     any liability of the permit-holder for any penalty for an offence for a failure to comply to which the assurance relates; and

        (b)     any other action that may be taken, or is required to be taken, in relation to any failure to comply or other circumstance to which the assurance relates.