Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 437

Scope

  (1)   This section applies if, under section   436, the responsible Commonwealth Minister decides to suspend any of the conditions to which a greenhouse gas assessment permit or greenhouse gas holding lease is subject.

Extension of term

  (2)   If the responsible Commonwealth Minister considers that the circumstances make it reasonable to do so, the responsible Commonwealth Minister may extend the term of the permit or lease by a period that the responsible Commonwealth Minister considers appropriate.

  (3)   In considering what period of extension may be appropriate, the responsible Commonwealth Minister must have regard to:

  (a)   the length of the period of suspension; and

  (b)   such other matters (if any) as the responsible Commonwealth Minister considers relevant.

  (4)   The extension may be:

  (a)   in the notice of suspension; or

  (b)   by a later written notice given to the permittee or lessee.

  (5)   Subsection   (2) has effect subject to this Chapter but despite:

  (a)   in the case of a greenhouse gas assessment permit--section   293; and

  (b)   in the case of a greenhouse gas holding lease--section   322.