Queensland Consolidated Acts

PETROLEUM ACT 1923 - SECT 74D

74D Sub-blocks that can not be counted towards relinquishment

(1) The following can not be counted as sub-blocks relinquished for the relinquishment condition—

(a) sub-blocks relinquished under a condition imposed under section 25J (6) ;

(b) sub-blocks in an area that, under section 20 , has ceased to be included in the area of an authority to prospect;

(c) sub-blocks the subject of a lease application or an application for a 2004 Act lease;

(d) sub-blocks relinquished under a penalty relinquishment.

(2) In this section—

"penalty relinquishment" means a relinquishment that is—

(a) made under section 74J or under a requirement under section 80T (1) (b) ; and

(b) more than the sub-blocks required to be relinquished under the relinquishment condition.