Victorian Current Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 257

Acceptance of offer—payment

    (1)     If—

        (a)     an offer document specifies an amount that the applicant must pay to the State for the grant of a cash‑bid petroleum exploration permit; and

        (b)     the applicant has not paid that amount within the period applicable under column 2 of the table in section 256(1)—

the application lapses at the end of that period.

    (2)     If—

        (a)     an offer document specifies the balance of the amount that the applicant must pay to the State for the grant of—

              (i)     a special petroleum exploration permit; or

              (ii)     a section 177 petroleum production licence; and

        (b)     the applicant has not paid that balance within the period applicable under column 2 of the table in section 256(1)—

the application lapses at the end of that period.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback