53.—(1) The Agency may, before it does any of the following things, namely—

(a) decides whether to—

(i) grant a waste licence,

(ii) transfer such a licence,

(b) conducts a review of a waste licence,

require the applicant for, or the holder of, the licence or the proposed transferee, as the case may be, to—

(i) furnish to it such particulars in respect of such matters affecting his or her ability to meet the financial commitments or liabilities that the Agency reasonably considers will be entered into or incurred by him or her in carrying on the activity to which the licence relates or will relate, as the case may be, in accordance with the terms of the licence or in consequence of ceasing to carry on that activity as it may specify, and

(ii) make, and furnish evidence of having so made, such financial provision as it may specify (which may include the entering into a bond or other form of security) as will, in the opinion of the Agency, be adequate to discharge the said financial commitments or liabilities.

(2) A person who, pursuant to a requirement made of him or her under subsection (1), furnishes to the Agency any particulars or evidence which he or she knows to be false or misleading in a material respect shall be guilty of an offence.

(3) The Minister may make regulations for the purposes of this section.

(4) Without prejudice to the generality of subsection (3), regulations under this section may specify by reference to the type of activity to which the waste licence concerned relates or will relate—

(a) the nature of the financial provision that the Agency may require a person to make under subsection (1) (ii),

(b) the matters to be had regard to by the Agency in determining the amount of financial provision that it may require a person to make under subsection (1) (ii).