Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf:
(a) an applicant has been given an offer document under section 171; and
(b) the applicant has made a request under section 260 in relation to the offer document within the period applicable under that section;
the Joint Authority must grant the applicant a petroleum production licence over the block or blocks as to which the Joint Authority is satisfied as mentioned in paragraph 171(1)(b).
Note 1: If the applicant does not make a request under section 260 within the period applicable under that section, the application lapses at the end of that period--see subsection 260(4).
Note 2: If an application made by a petroleum exploration permittee in relation to a block lapses, the petroleum exploration permit is revoked to the extent to which it relates to that block--see section 188 or clause 8 of Schedule 4.
Note 3: If an application made by a petroleum retention lessee in relation to a block lapses, the petroleum retention lease is revoked to the extent to which it relates to that block--see section 188 or clause 8 of Schedule 4.