| (1) |
For the purposes of transferring environmental liabilities and responsibilities as may be identified in the environmental authorisation and any closure plan, the person to whom such transfer is made must— |
[Regulation 59(1) substituted by Notice No. R. 420, G43172, dated 27 March 2020]
| (a) |
have the expertise, resources and organisational abilities to integrate risk assessment, risk management and risk financing to ascertain the cost of environmental management; |
| (b) |
have the expertise, financial and other resources to meet his or her obligations to carry out actions necessary to fulfil the environmental obligations as set out in the environmental authorisation or any closure plan concerned; |
[Regulation 59(1)(b) substituted by Notice No. R. 420, G43172, dated 27 March 2020]
| (c) |
have appropriate experience in environmental management, prospecting or mining operations and mine health and safety matters; |
| (d) |
have direct access to insurance products and alternative risk financing services appropriate to financing of exposure to risks; |
| (e) |
have the ability to manage trusts set up in terms of section 10(1 )(cH) of the Income Tax Act, 1962 (Act No 58 of 1962); and |
| (f) |
have expertise and experience or proven access thereto to interpret and manage the findings of an environmental risk assessment. |
Stamp Duties Act, 1968 (Act 77 of 1968)
