Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an application for a petroleum retention lease has been made under section 141.
(2) If the Joint Authority is not satisfied as to one or more of the matters referred to in paragraph 142(b) in relation to the block, or all the blocks, specified in the application, the Joint Authority must, by written notice given to the applicant, refuse to grant a petroleum retention lease to the applicant.
(a) the application specifies 2 or more blocks; and
(b) the Joint Authority is not satisfied as to one or more of the matters referred to in paragraph 142(b) in relation to:
(i) only one of the blocks; or
(ii) some, but not all, of the blocks;
the Joint Authority must, by written notice given to the applicant, refuse to grant a petroleum retention lease to the applicant in relation to the block or blocks covered by paragraph (b) of this subsection.
(4) If the Joint Authority is not satisfied as to the matter in paragraph 142(c), the Joint Authority must, by written notice given to the applicant, refuse to grant a petroleum retention lease to the applicant.
(5) If the Joint Authority is not satisfied of the matters (if
any) prescribed by the regulations, the Joint Authority may, by written notice
given to the applicant, refuse to grant a petroleum retention lease to the
applicant.