S.L. 549.172 Art. 26Guarantees.

(1) The Authority may impose the provision of a financial guarantee or equivalent safeguard as a condition of the permit, after considering the impacts and risks associated with any aspect of the activity, intervention or operation.

(2) When the holder of a permit fails to comply with any of the conditions laid down in the permit, the Authority may withdraw the guarantee in full or in part, as it may deem appropriate.

(3) In cases where the Authority withdraws the guarantee either in part or in full, the operator shall ensure that this is replenished within a period not exceeding thirty (30) days from date of withdrawal. Failure to replenish the guarantee within this period shall be construed as a breach of the permit and of these regulations.

(4) The Authority may release part of the guarantee as it may deem appropriate in the event of partial compliance, if it is satisfied that this would not prejudice the effectiveness of the respective permit conditions and approved specifications.