Commonwealth Consolidated Acts Commonwealth Consolidated Acts(a) an applicant has been given an offer document under section 344; and
(b) the applicant has made a request under section 431 in relation to the offer document within the period applicable under that section; and
(c) if the offer document specified the form and amount of a security to be lodged by the applicant--the applicant has lodged the security within the period applicable under section 433;
the responsible Commonwealth Minister must grant the applicant a greenhouse gas holding lease over the block or blocks specified in the offer document.
Note 1: If the applicant does not make a request under section 431 within the period applicable under that section, the application lapses at the end of that period--see subsection 431(4).
Note 2: If the applicant has not lodged the security within the period
applicable under section 433, the application lapses at the end of that
period--see section 433.