AMENDMENTS TO FINANCIAL PROVISIONING REGULATIONS, 2015
Notice Title: Amendments to Financial Provisioning Regulations, 2015
Government Notice: GN 495 in GG 44698 on 11 June 2021
Commencing date: 11 June 2021
The Minister of Forestry, Fisheries and the Environment (“the Minister”) published a notice amending the transitional arrangements contained in the Financial Provisioning Regulations, 2015, as amended, in terms of section 44(1)(aE), (aG), (aH) read with sections 24(5))b)(ix), 24(5)(d), 24N, 24P and 24R of the National Environmental Management Act 107 of 1998.
Regulation 17B has been substitutes and states that unless regulation 17A applies, a holder, or holder of a right or permit who applied for such right or permit prior to 20 November 2015, regardless of when the right or permit was obtained –
- Must by no later than 19 June 2022 comply with these Regulations; and
- Shall, until 19 June 2022, be regarded as having complied with the provisions of these Regulations, if such holder has complied with the provisions and arrangements regarding financial provisioning, approved as part of the right or permit issued in terms of Mineral and Petroleum Resources Development Act, 28 of 2002.
For a copy of the Government Gazette Notice click here
How to ensure compliance at my operations?
The transitional period has been extended from 19 June 2021 until 19 June 2022.
Therefore, a holder of a prospecting right, mining permit, mining right, exploration right or production right in terms of the Mineral and Petroleum Resources Development Act, 2002, applied for prior to 20 November 2015, must ensure compliance with the Financial Provisional Regulations by no later than 19 June 2022.
For more information or assistance please contact Jan Nel at jan@shangoni.co.za
