Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 75

  (1)   A tender block licence notice for an exploration licence must:

  (a)   specify the blocks to be covered by the licence; and

  (b)   specify the period within which applications may be made; and

  (c)   specify the procedure and criteria that the Joint Authority will adopt to allocate the licence; and

  (d)   specify the amount of security that the successful applicant will be required to lodge; and

  (e)   include a statement to the effect that information about:

  (i)   the security that the successful applicant will be required to lodge; and

  (ii)   the licence conditions;

    may be obtained from the Designated Authority.

  (2)   The tender block notice may specify not more than 500 blocks for the exploration licence.