Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if a licensee of an initial petroleum production licence mentioned in section 182 has made an application under that section.
Grant of petroleum production licence
(2) The Joint Authority must grant the licensee new petroleum production licences in accordance with the application.
Duration of new petroleum production licence
(3) If the initial petroleum production licence is a fixed - term petroleum production licence, a new petroleum production licence granted under this section remains in force for the remainder of the term of the initial petroleum production licence.
(4) If the initial petroleum production licence is a life - of - field petroleum production licence, a new petroleum production licence granted under this section remains in force indefinitely.
(5) Subsections (3) and (4) have effect subject to this Chapter but despite section 165.
Note: See the notes at the end of section 165.
Conditions of new petroleum production licence
(6) A new petroleum production licence under this section must be granted subject to conditions corresponding as closely as practicable to the conditions to which the initial petroleum production licence was subject.
Revocation of initial petroleum production licence
(7) If new petroleum production licences are granted under this section:
(a) the initial petroleum production licence is revoked; and
(b) the revocation has effect on the day on which those new licences come into force.
Time limit for making decision
(8) The Joint Authority must make a decision under subsection (2) within the period that:
(a) begins when the application was made; and
(i) if a written agreement between the applicant and the Joint Authority in relation to the application specifies a number of days for the purposes of this subparagraph--that number of days; or
(ii) if no such agreement is in force--the prescribed number of days.
(9) The Joint Authority is not required to comply with subsection (8) unless a number of days is prescribed for the purposes of subparagraph (8)(b)(ii).
(10) The applicant and the Joint Authority may vary or terminate an agreement referred to in subparagraph (8)(b)(i).
(11) A failure to comply with subsection (8) in relation to a decision does not affect the validity of the decision.
Note: See also sections 286B and 286C.