Queensland Consolidated Acts

PETROLEUM ACT 1923 - SECT 78E

78E Power to require security for 1923 Act petroleum tenure

(1) The Minister may require a 1923 Act petroleum tenure holder, or a person who has applied for a 1923 Act petroleum tenure, to give the State security for the tenure, or proposed tenure.

(2) The security must be—

(a) in the form prescribed under a regulation; and

(b) of at least the amount prescribed under a regulation.

(3) The requirement may be made at any time.

(4) However, the requirement does not take effect until the holder or applicant is given—

(a) for a requirement to give security in the form and amount prescribed under subsection (2) —notice of the requirement; or

(b) otherwise—an information notice about the decision to make the requirement.