Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies to an offer document that relates to an application for:
(a) the grant or renewal of a petroleum exploration permit; or
(b) the grant or renewal of a petroleum retention lease; or
(c) the grant or renewal of a petroleum production licence; or
(d) the grant of an infrastructure licence; or
(e) the grant of a pipeline licence.
General requirements
(2) The offer document must contain:
(a) a summary of the conditions to which the permit, lease or licence will be subject; and
(b) a statement to the effect that the application will lapse if the applicant does not make a request under section 260.
Payment for cash - bid petroleum exploration permit
(3) If the offer document relates to an application for the grant of a cash - bid petroleum exploration permit, the offer document must:
(a) specify, as the permit price:
(i) the amount of the cash bid, or tie - breaking cash bid, in relation to which the offer document is given; or
(ii) in the case of an offer document given under section 112--the amount of the reserve price determined under section 110 for the grant of the permit; and
(b) specify, as the balance of the permit price, an amount equal to the difference between the permit price and the deposit given by the applicant under section 111; and
(c) contain a statement to the effect that if the applicant does not pay the balance of the permit price to the Commonwealth within the period allowed for making a request under section 260:
(i) the application will lapse; and
(ii) except in the case of an offer document given under section 112--the applicant's deposit will be forfeited to the Titles Administrator on behalf of the Commonwealth.
Note: An offer document may be given under section 112 for the grant of a permit at the reserve price to an applicant whose cash bid is less than the reserve price.
Payment for special petroleum exploration permit
(4) If the offer document relates to an application for the grant of a special petroleum exploration permit, the offer document must:
(a) specify the balance of the amount that the applicant must pay for the permit; and
(b) contain a statement to the effect that the application will lapse if the applicant does not pay the balance to the Commonwealth within the period allowed for making a request under section 260.
Payment for cash - bid petroleum production licence over surrendered blocks etc.
(5) If the offer document is given under section 180 to an applicant for a petroleum production licence, the offer document must:
(a) specify the balance of the amount that the applicant must pay for the licence; and
(b) contain a statement to the effect that the application will lapse if the applicant does not pay the balance to the Commonwealth within the period allowed for making a request under section 260.