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PETROLEUM ACT 1923 - SECT 45
Entitlement to renewal of lease
45 Entitlement to renewal of lease
(1AA) This section does not apply to a lease that ends after 1 November 2021.
(1) The lessee of a lease who has substantially complied with this Act and the
2004 Act , chapter 6 , and the terms and conditions of the lease, in relation
to that lease, at the expiration of the lease, is entitled, subject to
subsection (2) , to a renewal of the lease by the Minister.
(1A) However,
subsection (1) only applies if— (a) the lease is a lease that has any number
as follows— (i) 1 to 18, inclusive;
(ii) 21 to 93, inclusive;
(iii) 98;
(iv) 101;
(v) 115 to 117, inclusive;
(vi) 204; or
(b) the lease is
prescribed under a regulation notified before 31 December 2004; or
(c) the
lease is not a lease mentioned in paragraph (a) or (b) and, before 31 December
2004, a notice under the Commonwealth Native Title Act , section 29 , was
given for the renewal; or
(d) a following agreement, whether made before or
after the commencement of this paragraph, provides for the renewal of the
lease under this Act and the negotiations for the agreement started before the
2004 Act start day— (i) an agreement mentioned in the Commonwealth
Native Title Act , section 31 (1) (b) ;
(ii) an indigenous land use agreement
registered on the register of indigenous land use agreement under the
Commonwealth Native Title Act .
Note— For the right to apply for a
petroleum tenure, see the 2004 Act , section 908 .
(2) A lessee referred to
in subsection (1) , before the expiration of the lease, is to by an
application— (a) declare whether deposits of petroleum, that the lessee
believes on reasonable grounds to be payable, exist within the land the
subject of the lease; and
(b) state whether or not the development plan for
the lease has been complied with; and Note— For the program for development
and production for a lease becoming its development plan, see section 156 .
(c) if the development plan for the lease has not been complied with—state
details of, and the reasons for, each noncompliance.
(2A) The application
must— (a) be in the approved form; and
(b) include a proposed later
development plan for the renewed lease; and
(c) be accompanied by— (i) the
application fee prescribed under a regulation; and
(ii) if the application is
made less than 40 business days before the end of the term of the lease—an
amount that is 10 times the application fee.
(2B) The proposed plan must
comply with the later development plan requirements.
(3) The renewed lease
must be for a term no longer than the period nominated (with reasons for the
nomination) by the lessee as an appropriate term for producing in an
economically viable way the petroleum from the fields within the land the
subject of the lease.
(4) The law relating to the amount and payment of
royalties and of rent in force at the time of renewal applies to the renewed
lease.
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