Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) an application for a greenhouse gas holding lease has been made under section 343; and
(b) the responsible Commonwealth Minister is not satisfied that the technical advice and financial resources available to the applicant are sufficient to:
(i) carry out the operations and works that will be authorised by the lease; and
(ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the lease;
the responsible Commonwealth Minister must, by written notice given to the applicant, refuse to grant the lease to the applicant.
(2) If:
(a) an application for a greenhouse gas holding lease has been made under section 343; and
(b) the responsible Commonwealth Minister is not satisfied of the matters (if any) prescribed by the regulations;
the responsible Commonwealth Minister may, by written notice given to the applicant, refuse to grant the lease to the applicant.