Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 40

  (1)   The following 3 steps must occur before a licence comes into force:

  (a)   provisional grant of the licence;

  (b)   proper acceptance of the grant;

  (c)   registration of the grant.

Note:   See sections   88, 154, 232 and 286.

  (2)   If a licence is provisionally granted to a person, the person must do the following to properly accept the grant:

  (a)   give the Designated Authority a written acceptance;

  (b)   lodge any security that the Joint Authority has required;

  (c)   pay the fees that are payable under the Fees Act.

Note:   See sections   70, 84, 151, 214, 228 and 283.

  (3)   The following 3 steps must occur before a renewal of a licence comes into force:

  (a)   provisional renewal of the licence;

  (b)   proper acceptance of the renewal;

  (c)   registration of the renewal.

Note:   See sections   89, 155, 233 and 287.

  (4)   If a licence is provisionally renewed, the holder must do the following to properly accept the renewal:

  (a)   give the Designated Authority a written acceptance of the renewal;

  (b)   lodge any security that the Joint Authority has required;

  (c)   pay the fees that are payable under the Fees Act.

Note:   See sections   114, 173, 250 and 300.