Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an application for the grant of a petroleum exploration permit has been made under section 104.
(2) The Joint Authority may:
(a) give the applicant a written notice (called an offer document ) telling the applicant that the Joint Authority is prepared to grant the applicant a petroleum exploration permit over the block or blocks specified in the offer document; or
(b) by written notice given to the applicant, refuse to grant a petroleum exploration permit to the applicant.
Note 1: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).
Note 2: If the applicant breaches a requirement under section 258 to provide further information, the Joint Authority may refuse to give the applicant an offer document--see subsection 258(3).
(3) In deciding whether to give the applicant an offer document, the Joint Authority:
(a) must have regard to the matters specified in subsection (4); and
(b) may have regard to any other matters the Joint Authority considers relevant.
(4) The matters are as follows:
(a) whether 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 permit; and
(ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the permit;
(b) the matters specified in section 695YB as they apply to the applicant;
(c) if the applicant 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.