Oil companies could face $10m fines
Tue, 07 Aug 2012 5:30a.m.
Oil companies could face fines of up to $10 million if they break environment protection rules in New Zealand's exclusive economic zone (EEZ).
Environment Minister Amy Adams says she intends changing a bill that's going through Parliament to increase the maximum fine from $600,000 to $10m.
"At this new level, I consider the penalty would be high enough to provide significant incentive to comply with the regime when operating in the EEZ," she said.
The maximum fine will be put into the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Bill.
The legislation will enact new measures to protect the marine environment from damage caused by oil exploration, drilling and seabed mining.
It won't come into effect until new regulations are developed. They are expected to be in place by the end of the year.
The EEZ extends 200 nautical miles (370km) from the coast.
The Resource Management Act regulates activities in territorial waters - out to 12km - but New Zealand hasn't had comprehensive legislation covering the EEZ.
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8/08/2012 11:11:41 a.m.
Guess what kiwi...to late you're foreign owned!
7/08/2012 11:27:02 p.m.
I am a kiwi and I don't agree to further oil prospecting or drilling in NZ (or around our coast) at all, there are many great ways to make a living in this beautiful country, we don't need to rely on polluting, overseas corporations robbing our resources as a source of revenue.
7/08/2012 10:10:07 a.m.
This Governement is reckless.Tauranga businesses lost more than $10 million dollars! with the inflations added this becames a joke! Rena Oil Spill anyone?
7/08/2012 6:27:35 a.m.
Does anyone have off hand the cost of a clean up to compare costings? What will the Renas total be and where is the rest of the money coming from for a cleanup if needed?
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