Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 566D

Scope

  (1)   This section applies if an application is made for approval of a change in control of a registered holder of a title under section   566C.

Decision

  (2)   The Titles Administrator must decide:

  (a)   to approve the change in control; or

  (b)   to refuse to approve the change in control.

Note:   The applicant must be notified of the decision (see section   566E).

  (3)   Before deciding whether to approve or refuse to approve a change in control, the Titles Administrator may consult with one or more of the following:

  (a)   the Cross - boundary Authority;

  (b)   the Joint Authority;

  (c)   NOPSEMA;

  (d)   the responsible Commonwealth Minister.

  (4)   In deciding whether to approve or refuse to approve a change in control, the Titles Administrator:

  (a)   must have regard to the matters specified in subsection   (5); and

  (b)   may have regard to the following matters:

  (i)   matters raised in consultations (if any) under subsection   (3);

  (ii)   any other matters the Titles Administrator considers relevant.

  (5)   The matters are as follows:

  (a)   whether the technical advice and financial resources available to the registered holder after the change in control takes effect are sufficient to:

  (i)   carry out the operations and works that are authorised by the titles held by the registered holder; and

  (ii)   discharge the obligations that are imposed under this Act, or a legislative instrument under this Act, in relation to those titles;

  (b)   the matters specified in section   695YB as they apply to a person who will begin to control the registered holder;

  (c)   if a person who will begin to control the registered holder is a body corporate--the matters specified in section   695YB as they apply to an officer of the body corporate;

  (d)   any other matters prescribed by the regulations.