Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 566H

  (1)   A person contravenes this subsection if:

  (a)   an application is made for approval of a change in control of a registered holder of a title under section   566C; and

  (b)   the person proposes to:

  (i)   begin to control the registered holder; or

  (ii)   cease to control the registered holder; and

  (c)   there is a change in circumstances in relation to the person that materially affects any of the matters the Titles Administrator must have regard to under subsection   566D(4); and

  (d)   the change in circumstances occurs either:

  (i)   before the Titles Administrator makes a decision under subsection   566D(2); or

  (ii)   if the change in control is approved--during the approval period for the change in control; and

  (e)   the person does not notify the Titles Administrator of the matters in paragraph   (c) as soon as practicable after the change in circumstances occurs.

Note 1:   Under subsection   566D(4), the Titles Administrator must have regard to various matters when deciding whether to approve or refuse to approve a change in control of a registered holder of a title.

Note 2:   Contravention of this subsection is also a ground for cancellation of the title (see paragraphs 274(e) and 446(da)).

Civil penalty provision

  (2)   A person is liable to a civil penalty if the person contravenes subsection   (1).

Civil penalty:   480 penalty units.