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BOEM doesn't think the phrase “economic assurance” is at any time used as a “system for furnishing security” in this rulemaking and, instead, is utilized to explain any of a number of differing types of securities that BOEM will acknowledge to ensure efficiency of obligations. As a result, BOEM believes the expression and linked definition is acceptable. BOEM has elected to simplify the rule by constantly using the expression money assurance as opposed to referring to the assorted kinds of economic securities.

The Office did not revise the proposed definition of “you” in the final rule. BOEM retained “assignor or transferor” from the definition as it is acceptable from the context of some subsections throughout the wide scope of elements 550 and 556. The intent of your definition of “you” was always for being entirely encompassing and to trust in context for its that means in any distinct scenario.

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No opinions were being obtained precisely on the proposed Modification to rename the lease-particular abandonment accounts in 30 CFR 556.904 as “Decommissioning Accounts” or perhaps the proposed Modification to eliminate the requirement to pledge Treasury securities to fund the account ahead of the resources equal the most sum insurable because of the FDIC/FSLIC.

Commenters advised that BOEM be consistent and intentional in its utilization of “financial assurance,” “protection,” and “bond” inside the remaining rule. Precisely, they requested BOEM to consider making use of the global time period “safety” as during the 2020 Proposed Rule in lieu of “fiscal assurance,” which as an alternative can check with the entire process of furnishing safety in lieu of the security alone. Reaction:

The tribunal thought of that It will be “acceptable for a coastal State to act to prevent… unsafe conditions that may lead to accidents to people and damage to devices and installations… and hold off or interruption in critical pagbet operations” (para.

The expression “sulphur” is changed during this section with “sulfur”, as proposed. This edit is actually a technological correction and isn't going to modify any which means or intent on the regulatory provisions.

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