Sec. 159.
326 words·~1 min read·
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The matter under the amended heading “Royalty and Offshore Minerals Management” for the Minerals Management Service in Public Law 101–512 (104 Stat. 1926, as amended) ( 43 U.S.C. 1338a ), as amended by section 123 of title I of division E of ( Public Law 118–42 ), is further amended by striking the fifth through eighth provisos in their entirety and inserting the following: . That notwithstanding section 3302 of title 31, United States Code, any moneys hereafter received as a result of the forfeiture of a bond or other security by an Outer Continental Shelf permittee, lessee, or right-of-way holder that does not fulfill the requirements of its permit, lease, or right-of-way or does not comply with the regulations of the Secretary, or as a bankruptcy distribution or settlement associated with such failure or noncompliance, shall be credited to a separate account established in the Treasury for decommissioning activities and shall be available to the Bureau of Ocean Energy Management without further appropriation or fiscal year limitation to cover the cost to the United States or any entity conducting any improvement, protection, rehabilitation, or decommissioning work rendered necessary by the action or inaction that led to the forfeiture or bankruptcy distribution or settlement, to remain available until expended:
Provided further, That amounts deposited into the decommissioning account may be allocated to the Bureau of Safety and Environmental Enforcement for such costs: Provided further, That any moneys received for such costs currently held in the Ocean Energy Management account shall be transferred to the decommissioning account: Provided further, That only such portion of the moneys so credited that are in excess of the amount expended in performing the work necessitated by the action or inaction which led to their receipt or, if the bond or security was forfeited for failure to pay the civil penalty, in excess of the civil penalty imposed shall be returned to the bankruptcy estate, permittee, lessee, or right-of-way holder.
Provided further,
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3 references not yet in our index
- Pub. L. 101-512
- 104 Stat. 1926
- Pub. L. 118-42
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