Mineral and Energy Resources (Financial Provisioning) Act 2018Mineral and Energy Resources (Financial Provisioning) Regulation 20191Short titleThis regulation may be cited as the Mineral and Energy Resources (Financial Provisioning) Regulation 2019.2CommencementThis regulation commences on 1 April 2019.2APrescribed rating—Act, s 11For section 11(4) of the Act, definition prescribed rating, the following credit ratings are prescribed—

(a)a long-term credit rating by Fitch Australia Pty Ltd ACN 081 339 184 of BBB+ or higher;

(b)a long-term credit rating by Moody’s Investors Service Pty Limited ACN 003 399 657 of Baa1 or higher;

(c)a long-term credit rating by S&P Global Ratings Australia Pty Ltd ACN 007 324 852 of BBB+ or higher.

s 2A ins 2025 SL No. 88 s 43Prescribed insurer—Act, s 56(1)For section 56(3) of the Act, a prescribed insurer is an entity that is—

(a)an approved security provider; and

(b)not a sole parent captive.

(2)However, if financial assurance mentioned in section 89(1)(a) of the Act was provided by an entity that satisfied subsection (1)(a) and not subsection (1)(b) (a pre-commencement insurer), a prescribed insurer includes the pre-commencement insurer.(3)In this section—approved security provider means an approved security provider under the Financial and Performance Management Standard 2009, section 36.insurance company means a company authorised under the Insurance Act 1973 (Cwlth) to carry on insurance business.sole parent captive means an insurance company that—

(a)is owned by a single company or a group of related bodies corporate; and

(b)exists for the purpose of underwriting risks of a parent company or members of a group of related entities, including, for example, risks of joint venture partners and contractors of members of the group.

4Assessment fee—Act, s 60For section 60(1) of the Act, the assessment fee payable for an allocation decision for an authority is stated in schedule 1.5Prescribed percentage—Act, sch 1, definition prescribed percentageFor schedule 1 of the Act, definition prescribed percentage, the percentage prescribed is—

(a)for an authority allocated to the risk category of very low—0.5%; or

(b)for an authority allocated to the risk category of low—1.0%; or

(c)for an authority allocated to the risk category of moderate—2.25%; or

(d)for an authority allocated to the risk category of moderate-high—6.5%.

s 5 amd 2025 SL No. 88 s 5Schedule 1Assessment feesection 4$1Assessment fee for an allocation decision for an authority, other than an allocation decision for an authority to which item 2 applies, if the estimated rehabilitation cost for the authority at the beginning of the day on which the decision is made is—(a)at least $100,000 but less than $1m250(b)at least $1m but less than $10m1,250(c)at least $10m but less than $50m5,000(d)at least $50m but less than $100m11,250(e)at least $100m22,5002Assessment fee for an allocation decision for an authority that involves consideration of the characteristics of a resource project to which the authority relates, if the estimated rehabilitation cost for the authority at the beginning of the day on which the decision is made is—(a)at least $50m but less than $100m22,500(b)at least $100m45,000sch 1 sub 2025 SL No. 88 s 6