Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 261

    If:

  (a)   an offer document specifies the balance of the amount that the applicant must pay to the Commonwealth for the grant of:

  (i)   a special petroleum exploration permit; or

  (ii)   a section   181 petroleum production licence; and

  (b)   the applicant has not paid that balance within the period applicable under column 2 of the table in subsection   260(1);

the application lapses at the end of that period.