Protection of the Environment Operations Act 1997 No 156
Current version for 14 May 2020 to date (accessed 17 July 2020 at 00:59)
Chapter 9 Part 9.4 Section 296
296   Purpose of this Part
(1)  The purpose of this Part is to provide (by way of conditions of environment protection licences) financial assurances to secure or guarantee funding for or towards the carrying out of works or programs (such as remediation work or pollution reduction programs) required by or under a licence.
(2)  A financial assurance is not to operate as a mere penalty for a contravention of this Act, the regulations or the conditions of a licence.