Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 155

  (1)   A renewal of a retention licence comes into force on:

  (a)   the day on which the renewal is registered; or

  (b)   the day on which the previous term of the licence expires;

whichever is the later.

Note:   See Division   5 for renewal.

  (2)   The term of a renewal of a licence expires at the end of the period specified in the notice under section   169.

Note 1:   For the maximum term of renewal see subsection   169(3).

Note 2:   The licence may be surrendered at any time (see section   187).

  (3)   The period runs from the expiry of the previous term of the licence.

  (4)   Ignore section   156 in working out the period referred to in subsection   (3).