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(1)The powers conferred on the undertaker by this Act shall be exercisable only if, and so long as, the condition in subsection (2) below is satisfied.
(2)The undertaker shall put in place insurance for the costs of decommissioning and removing the regulated works in the form of a third party bond approved by the Scottish Ministers or such other third party financial instrument as is acceptable to them, and shall retain in place such bond or other instrument (or such replacement or modification as the Scottish Ministers may approve) for the operational lifetime of the regulated works.
(3)In considering the acceptability of a bond or other instrument under this section the Scottish Ministers may have regard to any arrangements which have been agreed between the undertaker and the Crown Estate Commissioners.
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