Queensland Consolidated Acts

PETROLEUM ACT 1923 - SECT 78K

78K Retention of security after 1923 Act petroleum tenure ends

(1) Security, or part of security, given for a 1923 Act petroleum tenure may be kept for 1 year after the tenure has ended.

(2) Also, if a claim made for the use of the security has not been assessed, an appropriate amount of the security to meet the claim may be kept until the claim has been assessed.