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OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE (RESOURCE MANAGEMENT AND ADMINISTRATION) REGULATIONS 2011 - REG 12.02

Prescribed details for supplementary instrument for approval of dealing

             (1)  For subsections 489(2) and 540(2) of the Act, the following details are prescribed:

                     (a)  description and date of execution of the instrument evidencing the dealing mentioned in subsection 489(1) or 540(1) of the Act;

                     (b)  details of the title (including the type and number of the title) to which the dealing relates;

                     (c)  full name and business address of each party to the dealing;

                     (d)  details of the effect or effects, upon registration, of the dealing specified in terms of the relevant item in section 486 or 537 of the Act;

                     (e)  details of the interest or interests in the title of all parties to the dealing:

                              (i)  before the registration of the dealing; and

                             (ii)  in the event of approval of the dealing, after the registration of the dealing;

                      (i)  in respect of any related dealing for which an entry has been made in the Register or an application, in writing, for approval has been lodged:

                              (i)  a description of the instrument evidencing the dealing and the date of execution; and

                             (ii)  the date of approval; and

                            (iii)  the registration number (if any).

             (2)  In this regulation:

"related dealing" means a dealing executed, before the execution of the instrument evidencing the dealing mentioned in paragraph (1)(a), by some or all of the parties to that instrument:

                     (a)  that affects the title which is the subject of the dealing to which the instrument referred to in paragraph (1)(a) relates; and

                     (b)  that:

                              (i)  creates or assigns an option to enter into the dealing mentioned in paragraph (1)(a); or

                             (ii)  creates or assigns a right to enter into the dealing mentioned in paragraph (1)(a); or

                            (iii)  is altered or terminated by the dealing mentioned in paragraph (1)(a);

and includes any transaction in respect of which an instrument was registered under section 81 of the Petroleum (Submerged Lands) Act 1967 before 22 July 1985.



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