(1) A declaration of a potential storage area continues in force for the period stated in the declaration.
(2) The period can not be more than 10 years.
(3) In deciding a shorter period the Minister must consider—(a) when any discovery of a GHG stream storage site was made; and(b) any GHG storage viability report or independent viability assessment for or that includes the proposed potential storage area.
(4) Despite subsection (1) , the declaration ceases if the GHG permit holder gives the chief executive a notice stating that the holder no longer wishes the area to be a potential storage area.Note—For other relevant provisions about giving a document to the chief executive, see section 411 .