Commonwealth Consolidated Acts

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OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 354

Cancellation of certain greenhouse gas holding leases granted to the holders of petroleum retention leases

Scope

  (1)   This section applies if:

  (a)   a greenhouse gas holding lease is tied to a petroleum retention lease; and

  (b)   the petroleum retention lease is cancelled, surrendered or wholly revoked.

Cancellation of greenhouse gas holding lease

  (2)   The responsible Commonwealth Minister must cancel the greenhouse gas holding lease.


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