Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a petroleum exploration permit over a block or blocks cannot be renewed or further renewed; and
(b) before the time when the permit would, apart from this subsection, expire, the permittee applies to the Titles Administrator for the grant by the Joint Authority of a petroleum retention lease or petroleum production licence over the block or one or more of the blocks; and
(c) the block or blocks covered by the application are included in a location;
the table has effect:
Extension of permit | ||
Item | In this case... | the permit continues in force over the block or blocks covered by the application until... |
1 | the Joint Authority gives the permittee an offer document relating to a petroleum retention lease or petroleum production licence over the block or one or more of the blocks | the lease or licence is granted, the permittee withdraws the application or the application lapses. |
2 | the application is for a petroleum retention lease and the Joint Authority decides not to grant the lease to the permittee | the end of the period of one year after the day on which the notice of refusal was given to the permittee. |
3 | the application is for a petroleum production licence and the Joint Authority decides not to grant the licence to the permittee | notice of the decision is given to the permittee. |
(2) Subsection (1) has effect subject to this Chapter but despite section 102.
Note: See the notes at the end of section 102.