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Flood and Water Management Act 2010
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- Deddfau Cyhoeddus Cyffredinol y Deyrnas Unedig
- 2010 c. 29
- SCHEDULE 3
- Non-performance bonds
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- Dangos Graddfa Ddaearyddol(e.e. Lloegr, Cymru, Yr Alban aca Gogledd Iwerddon)
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Rhagor o Adnoddau
Changes over time for: Cross Heading: Non-performance bonds
Alternative versions:
- 02/05/2018- Amendment
- 07/01/2019- Amendment
- 25/04/2024
Point in time
Status:
Point in time view as at 25/04/2024.
Changes to legislation:
There are currently no known outstanding effects for the Flood and Water Management Act 2010, Cross Heading: Non-performance bonds.
Changes to Legislation
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Non-performance bondsE+W
12(1)A non-performance bond is a bond of a kind and to a value specified in a condition imposed on the grant of an application for approval.E+W
(2)The effect of the bond must be that the value of the bond is payable to the approving body if it certifies that the drainage system—
(a)has been constructed in a manner that is not in accordance with the approved proposals, or
(b)is unlikely to be completed.
(3)Before giving a certificate under sub-paragraph (2) the approving body must consult the applicant for approval (“the developer”).
(4)Where an approving body gives a certificate under sub-paragraph (2)—
(a)it must notify the developer,
(b)the approving body may undertake any work necessary to ensure that the drainage system is completed in such a manner as to make it likely to operate in compliance with national standards for sustainable drainage, and
(c)the sums received under the bond may be applied to the expenses of that work, and any excess is to be paid to the developer.
(5)In requiring a non-performance bond an approving body must specify a value which does not exceed the best estimate of the maximum likely cost of work required to ensure that the drainage system accords with the approved proposals.
(6)The Minister may issue guidance about what amounts may be required by way of non-performance bonds; and approving bodies must have regard to the guidance.
Commencement Information
I1Sch. 3 para. 12 in force at 2.5.2018 for specified purposes for W. by S.I. 2018/557, art. 2(b)
I2Sch. 3 para. 12 in force at 7.1.2019 for W. in so far as not already in force by S.I. 2018/557, art. 3(b)
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