Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 478

Scope

  (1)   This section applies if an application is made for approval of a transfer.

Decision

  (2)   The Titles Administrator must:

  (a)   approve the transfer; or

  (b)   refuse to approve the transfer.

  (3)   Before deciding whether to approve a transfer of a title, the Titles Administrator may consult with one or more of the following:

  (a)   the Joint Authority;

  (b)   NOPSEMA;

  (c)   the responsible Commonwealth Minister.

  (3A)   In deciding whether to approve a transfer of a title, the Titles Administrator:

  (a)   must have regard to the matters specified in subsection   (3B); and

  (b)   may have regard to the matters raised in consultations (if any) under subsection   (3); and

  (c)   may have regard to any other matters the Titles Administrator considers relevant.

  (3B)   The matters are as follows:

  (a)   whether the technical advice and financial resources available to the transferee or transferees are sufficient to:

  (i)   carry out the operations and works that are authorised by the title; and

  (ii)   discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the title;

  (b)   the matters specified in section   695YB as they apply to the transferee or transferees;

  (c)   if the transferee or transferees is a body corporate--the matters specified in section   695YB as they apply to an officer of the body corporate;

  (d)   any other matters prescribed by the regulations.

  (4)   The Titles Administrator must, by written notice given to the applicant, notify the applicant of the Titles Administrator's decision.

  (5)   If the Titles Administrator refuses to approve the transfer, the Titles Administrator must make a notation of the refusal in the relevant Register.