Financial assurance

(1) A person who operates a hazardous waste management facility shall provide to the Chief Environmental Officer, if the Chief Environmental Officer so requires, financial assurance in a form and amount that the Chief Environmental Officer considers appropriate to cover the cost of reclamation, inventory removal, closure and 20 years of post-closure care for the (2) The amount of security provided shall be based upon the total of the most current cost estimate for closure together with the most current cost estimate for post closure care and shall be annually adjusted for inflation. (3) The estimates shall be based on reclamation conducted by a third party. (4) In determining whether to require financial assurance, the Chief Environmental Officer shall have regard to the volume of hazardous waste at the facility or accepted, the characteristics of the waste, and the nature of the treatment and disposal of such (5) Within 30 days of any changes to the closure plan or post closure care plan, the operator shall recalculate the closure and post closure care cost estimates and provide these to the Chief Environmental Officer.