Queensland Consolidated Acts

GREENHOUSE GAS STORAGE ACT 2009 - SECT 129

129 Provisions for preferred tenderers

(1) The Minister may require a preferred tenderer for the call for tenders to—

(a) pay any amounts necessarily incurred or to be incurred to enable the GHG lease to be granted; and

(b) to do all or any of the following within a stated reasonable period—

(i) pay the annual rent for the first year of the GHG lease;

(ii) give security for the GHG lease as required under section 271 .

(2) If a preferred tenderer does not—

(a) comply with a requirement under subsection (1) ; or

(b) do all things reasonably necessary to allow a GHG lease to be granted to the tenderer;

the Minister may appoint another tenderer to be the preferred tenderer.