Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) A petroleum production licensee commits an offence if:
(a) a significant event occurs in, or in relation to, the licence area; and
(b) the licensee becomes aware of the significant event; and
(c) the licensee does not provide a written notification of the significant event to the Titles Administrator within 7 days after becoming aware of the event.
(2) The notification must include:
(a) all the material facts and circumstances about the significant event that the licensee is aware of or is able, by reasonable search and inquiry, to find out, including:
(i) when the event occurred or was first detected; and
(ii) the implications of the event for the reservoir and the optimum long - term recovery of petroleum; and
(b) the action the licensee proposes to take in response to the significant event.
(3) The notification may include any other facts the licensee considers relevant.