Financial provisioning scheme queensland

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August undefined, 2024

WebQueensland Treasury Mineral and Energy Resources (Financial Provisioning) Act 2024 Scheme Manager Guideline Forms of Surety Queensland Treasury Department of Natural Resources, Mines and Energy Department of Environment and Science. Prepared for the Queensland Government Interdepartmental Committee on Financial WebMar 1, 2024 · (1) The Financial Provisioning Fund (the scheme fund) is established. (2) Accounts for the scheme fund must be kept as part of the departmental accounts of the department. (3) Amounts received for the scheme fund— (a) must be deposited in a departmental financial institution account of the department; and

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WebScheme Financial provisioning scheme SSMT Small scale mining tenure BACKGROUND ... The Scheme will be managed by a Scheme Manager within Queensland Treasury. Authority holders must provide either a contribution payment to the Scheme fund or a surety to the Scheme Manager. WebOct 1, 2024 · Environmental authority (EA) holders for a resource activity may be required to contribute financial assurance (or security deposit) to the Financial Provisioning … rifts into the radius

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WebThe Queensland Government is working to ensure that reform of the current financial assurance and rehabilitation arrangements for the resource sector protects the State’s … WebFeb 26, 2024 · Under the new regime proposed by the Mineral and Energy Resources (Financial Provisioning) Bill 2024, the Department of Environment and Science will determine the 'estimated rehabilitation cost' ( ERC ), being the estimated cost of rehabilitating the land on which the resource activity is occurring for the relevant period … rifts in the chasm genshin

Update on Queensland mining sector reforms - Hogan Lovells

Financial assurance and estimated rehabilitation cost (ERC ...

The Financial Provisioning Scheme Advisory Committee provides advice to the Queensland Government about funding requests from the Scheme fund for: 1. remediation/rehabilitation activities at land on which an abandoned mine exists; and 2. research that may contribute to the rehabilitation of … See more The Mineral and Energy Resources (Financial Provisioning) Act 2024 (the Act) came into force on 1 April 2024. The Act replaced the prior financial assurance arrangements for … See more The Mineral and Energy Resources (Financial Provisioning) Regulation 2024establishes the prescribed insurer, formula for determining the contribution to be paid to the Scheme’s fund and sets the assessment fees. To … See more All resource activity holders of an environmental authority. All holders of a small scale mining tenure permit. See more A holder of an Environmental Authority for a prescribed environmentally relevant activity (e.g. non-resource sites such as landfills, agriculture) provide financial assurance as required by the EP Act. See more WebJul 8, 2024 · The financial provisioning scheme applies to: the holder of an environmental authority for a resource activity (under section 297 of the Environmental Protection Act … rifts in spaceWebNov 28, 2024 · Queensland Mineral and Energy Resources (Financial Provisioning) Act 2024 Current as at 7 September 2024 ... Part 2 Establishment of scheme and residual risks fund ... Mineral and Energy Resources (Financial Provisioning) Act 2024 Page 2 rifts in the ocean

"WebSep 16, 2024 · On 15 September 2024, Queensland Treasury released its annual report for the Financial Provisioning Scheme ( FPS) governed by the Mineral and Energy … " - Financial provisioning scheme queensland

Financial provisioning scheme queensland

WebApproved Information Sheet - Queensland Treasury WebOct 26, 2024 · Financial Provisioning Scheme. The purpose of the Scheme is to provide the Queensland government with the necessary funds to manage environmental …

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WebMost abandoned mines date from before 2000, before Queensland laws were amended to provide stronger environmental management and rehabilitation requirements for mining activities. Financial provisioning scheme legislation was passed in late 2024 and came into effect from 1 April 2024, further strengthening requirements. WebJun 20, 2024 · The Queensland Government has released draft regulations and guidelines for the Financial Provisioning Scheme ( FP Scheme) set to be introduced in the …

WebOct 1, 2024 · Petroleum and gas videos For more information on the ERC, read about financial assurance for resource activities. Previous Financial assurance for resource activities Next Financial Provisioning Scheme for resource activity environmental authorities Last reviewed: 1 Oct 2024 Last updated: 5 Oct 2024 Print page Print topic WebOn 15 February 2024, the Mineral and Energy (Financial Provisioning) Bill 2024 was introduced into the Queensland Parliament. Reforms. Financial Provisioning Scheme. The Scheme is designed to protect the State’s financial interest.

WebNov 1, 2024 · A PRC plan consists of 2 parts: A rehabilitation planning part PRCP schedule. As an applicant, you will submit a proposed PRC plan with a completed PRCP schedule to the administering authority. The administering authority then assesses the plan and approves the final PRCP schedule. PRCP schedule WebJun 20, 2024 · This article was written by Matthew Austin.. The Queensland Government has released draft regulations and guidelines for the Financial Provisioning Scheme (FP Scheme) set to be introduced in the Mineral and Energy Resources (Financial Provisioning) Bill 2024 (Qld) (MERFP Bill).The draft MERFP Regulation and guidelines …

WebMurray currently serves as a Statutory appointed of Governor in Council managing the Financial Provisioning Scheme for the Queensland Government. Previous roles include Chief Operating Officer at IFAA (who provided administration services to industry superannuation funds in excess of $10bn), Senior Vice President Strategy Aurizon and …

WebFinancial security (formerly Financial Assurance) under the Scheme is termed an Estimated Rehabilitation Cost (ERC). It is to be determined in accordance with a … rifts in the skyWebMay 2, 2024 · Financial provisioning fund, surety and scheme manager. The new scheme establishes a scheme manager who will have responsibility to manage the new … rifts japan pdf downloadWebApr 5, 2024 · 5 April 2024 2 1 About this guideline 1.1 Background This guideline is made by the scheme manager under section 70 (Guidelines) of the Mineral and Energy Resources (Financial Provisioning) Act 2024 (Act). The Act establishes a Financial Provisioning Scheme (scheme) to manage the financial risk to the State if environmental authority … rifts in the woods dragon age inquisitionWeb%PDF-1.6 %忏嫌 310 0 obj > endobj 321 0 obj >/Filter/FlateDecode/ID[48088DB53C7E794DA924C69D10E7B090>4EA724CD41836E4DA75968234C5463E5>]/Index[310 … rifts lazlo raw pdfWebNov 15, 2024 · In brief On 14 November 2024, the Queensland Parliament passed the Mineral and Energy Resources (Financial Provisioning) Act 2024 (Qld) ( FP Act) which aims to reform Queensland’s financial assurance ( FA) and rehabilitation framework in the resources sector. rifts juicer power armorWebNov 16, 2024 · Financial Provisioning Scheme The new financial provisioning scheme is set to commence in the first half of 2024. Upon commencement of the MERFP Bill, resource projects will begin transitioning to the new scheme upon an operator's receipt of a transition notice issued by the new Scheme Manager. rifts keepers of the desertWebFinancial provisioning and Estimated Rehabilitation Cost The Queensland Government requires proponents of all resource activities to provide financial security prior to the commencement of approved activities. rifts languages