New South Wales Consolidated Acts

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PETROLEUM (OFFSHORE) ACT 1982 - SECT 26

Consideration of application

26 Consideration of application

(1) Where, at the expiration of the period specified in an instrument under section 24 (1), only 1 application has been made under that subsection in respect of the block or blocks specified in the instrument, the Minister may reject the application or may, by instrument in writing served on the applicant, inform the applicant that the Minister is prepared to grant to the applicant a permit in respect of that block or those blocks.
(2) Where, at the expiration of the period specified in an instrument under section 24 (1), 2 or more applications have been made under that subsection in respect of the block or blocks specified in the instrument, the Minister may reject any or all of the applications and, if the Minister does not reject all of the applications, may:
(a) if only 1 application remains unrejected--by instrument in writing served on the applicant, or
(b) if 2 or more applications remain unrejected--by instrument in writing served on the applicant, or on 1 of the applicants, whose application has not been rejected and who has specified as the amount that the applicant is prepared to pay in respect of the grant of a permit to the applicant an amount that is not less than the amount specified by any other applicant whose application has not been rejected,
inform the applicant that the Minister is prepared to grant to the applicant a permit in respect of that block or those blocks.
(5) An instrument under this section shall contain:
(a) a summary of the conditions subject to which the permit is to be granted, and
(b) a statement to the effect that the application will lapse if the applicant does not:
(i) make a request under section 27 (1), and
(ii) pay the balance of the amount to be paid in respect of the grant of the permit to the applicant or enter into an agreement under section 110 in respect of that balance.



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