Section 18June 23, 1999, Sec./Art. 18

Financial Liability for Environmental Rehabilitation. - As part of the environmental management plan attached to the environmental compliance certificate pursuant to Presidential Decree No. 1586 and rules and regulations set therefor, the Department shall require program and project proponents to put up financial guarantee mechanisms to finance the needs for emergency response, clean-up rehabilitation of areas that may be damaged during the program or projects actual implementation. Liability for damages shall continue even after the termination of a program or project, where such damages are clearly attributable to that program or project and for a definite period to be determined by the Department and incorporated into the environmental compliance certificate.

Financial liability instruments may be in the form a trust fund, environmental insurance, surety bonds, letters of credit, as well as self-insurance. The choice of the guarantee instruments shall furnish the Department with evidence of availment of such instruments.

Article Three

Pollution from Stationary Sources