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OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 350D

Renewal of cross - boundary greenhouse gas holding lease

    If:

  (a)   an applicant has been given an offer document under section   350B; and

  (b)   the applicant has made a request under section   431A 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 Cross - boundary Authority must renew the greenhouse gas holding lease.

Note 1:   If the applicant does not make a request under section   431A within the period applicable under that section, the application lapses at the end of that period--see subsection   431A(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.


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