Timber Regulations, 1993

Version of section 15 from 2006-03-22 to 2017-04-12:

  •  (1) Subject to subsection (2), every operator shall provide a security deposit to the Minister with each tender to ensure due performance of the agreement by the operator.

  • (2) The amount of the security deposit referred to in subsection (1) shall be not less than 10 per cent of the tender price.

  • (3) The Minister shall apply the security deposit provided pursuant to subsection (1) to the tender price of the agreement.

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