Commonwealth Numbered Acts

PETROLEUM (SUBMERGED LANDS) AMENDMENT ACT 1980 No. 80, 1980 - SECT 22

22. (1) Section 53 of the Principal Act is repealed and the following section
substituted: Term of licence



"53. Subject to this Part, a licence remains in force-

   (a)  in the case of a licence granted otherwise than by way of renewal of a
        licence-for a period of 21 years commencing on the day on which the
        licence is granted;

   (b)  in the case of a licence granted by way of the first renewal of a
        licence-for the period of 21 years commencing on the day on which the
        licence is granted; and

   (c)  in the case of a licence granted by way of the renewal, other than the
        first renewal, of a licence-for such period, not exceeding 21 years,
        as the Joint Authority determines and is specified in the licence,
        commencing on the day on which the licence is granted.".

(2) A licence granted before the commencement of this section is not
invalidated by reason of any error that may have occurred in specifying the
date of commencement of the licence and the term of such a licence shall be
deemed to have commenced on the date of commencement specified in it.