(1) The Minister may approve a surrender only if—(a) up to the day the application was made, the holder had submitted all reports required to be submitted under this Act; and(b) the Minister considers the risks associated with GHG stream storage under the GHG lease have been reduced as much as is reasonably practicable; and(c) all of the relevant environmental authority has been cancelled or surrendered.
(2) In deciding whether to approve a surrender the Minister must consider the extent to which the applicant has complied with the conditions of the GHG lease.