NATIONAL ENVIRONMENTAL MANAGEMENT ACT 107 OF 1998: AMENDMENT TO THE TRANSITIONAL ARRANGEMENTS IN THE FINANCIAL PROVISIONING REGULATION, 2015
Notice Title: National Environmental Management Act 107 of 1998 (“NEMA”): Amendment to the transitional arrangements in the Financial Provisioning Regulation, 2015
Government Notice: GN 4296 in GG 50059 on 1 February 2024
Commencing date: 1 February 2024
The Minister of Forestry, Fisheries and the Environment (“the Minister”) extended the date of compliance for holders of rights and permits obtained under the Mineral and Petroleum Resources Development Act, 28 of 2002 (“MPRDA”) regime through an amendment of 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 NEMA.
The amendment to Regulation 17A entails the following:
Notwithstanding the provisions of regulation 17, and the extension of the transitional period published in GNR 452 on 20 April 2018, a holder of an offshore exploration or production right, who applied for such right prior to 20 November 2015, regardless of when the right was obtained-
- must by no later than a date published in the Government Gazette comply with these Regulations; and
- shall, until such date published in the Government Gazette contemplated in paragraph (a), be regarded as complying with the provisions of these Regulations, if such holder complies with the provisions and arrangements regarding financial provisioning, approved as part of the right issued in terms of the MPRDA.
The amendment to Regulation 17B entails the following:
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 a date published in the Government Gazette comply with these Regulations; and
- Shall, until such date published in the Government Gazette contemplated in paragraph (a), 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 MPRDA
For a copy of the Government Gazette Notice click here.
For more information or assistance please contact Jan Nel at jan@shangoni.co.za.
