Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 353

  (1)   If:

  (a)   a special greenhouse gas holding lease is in force; and

  (b)   one or more identified greenhouse gas storage formations are wholly situated in the lease area; and

  (c)   the responsible Commonwealth Minister is satisfied that, if the lessee were to apply under section   361 for the grant of a greenhouse gas injection licence over the block or blocks in which the identified greenhouse gas storage formation or formations are wholly situated, the responsible Commonwealth Minister would not refuse to grant the greenhouse gas injection licence on a ground covered by paragraph   362(2)(c), (d), (e), (f), (g) or (i);

the responsible Commonwealth Minister may, by written notice given to the lessee:

  (d)   request the lessee to notify the responsible Commonwealth Minister, within 180 days after the day on which the notice is given to the lessee, of the lessee's intention to apply for the greenhouse gas injection licence; and

  (e)   request the lessee to apply for the greenhouse gas injection licence within 2 years after the day on which the notice is given to the lessee.

  (2)   If the lessee does not comply with a request under subsection   (1), the responsible Commonwealth Minister may cancel the lease.