(1) This section applies if an application for a special greenhouse gas holding lease has been made under section 336.
(2) If the responsible Commonwealth Minister is not satisfied as to the matter in paragraph 337(b), the responsible Commonwealth Minister must, by written notice given to the applicant, refuse to grant a special greenhouse gas holding lease to the applicant.
(3) If the responsible Commonwealth Minister is not satisfied of the matters (if any) prescribed by the regulations for the purposes of paragraph 337(c), the responsible Commonwealth Minister may, by written notice given to the applicant, refuse to grant a special greenhouse gas holding lease to the applicant.