Victorian Current Acts Victorian Current Acts(1) A greenhouse gas holding lease (other than a special greenhouse gas holding lease) remains in force for the period of 5 years beginning on—
(a) the day on which the lease is granted; or
(b) if a later day is specified in the lease as the day on which the lease is to come into force—that later day.
(2) A special greenhouse gas holding lease remains in force indefinitely.
(3) Subsections (1) and (2) have effect subject to this Chapter.
Notes
1 For a special rule about the extension of the duration of a greenhouse gas holding lease if the lessee applies for a special greenhouse gas holding lease or greenhouse gas injection licence, see section 333.
2 For a special rule about the cancellation of a special greenhouse gas holding lease, see section 368.
3 For a special rule about the cancellation of a greenhouse gas holding lease granted to the holder of a petroleum retention lease, see section 369.
4 For a special rule about the extension of the duration of a greenhouse gas holding lease pending a decision on a renewal application, see section 362(6).
5 For a special rule about the extension of the duration of a greenhouse gas holding lease once a decision has been made refusing to renew the lease, see section 364(4) and (5).
6 For special rules about the extension of the duration of a greenhouse gas holding lease following a suspension or exemption decision, see sections 469 and 471.
7 For a special rule about when a greenhouse gas holding lease ceases to be in force following the grant of a greenhouse gas injection licence, see section 389.
8 For the surrender of a greenhouse gas holding lease, see Part 3.10.
9 For the cancellation of a greenhouse gas holding lease, see Part 3.11.