Timber Regulations, 1993

Version of section 15 from 2017-04-13 to 2017-10-13:

  •  (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, that is determined by the Minister in the agreement, shall be not less than 10% of the tender price.

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

  • SOR/2017-52, s. 6.
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