(1) If—
(a) an application for a greenhouse gas holding lease has been made under section 334(2); and
(b) the Minister is satisfied that the applicant is not, at the time of the application, in a position to—
(i) inject a greenhouse gas substance into the identified greenhouse gas storage formation concerned; and
(ii) permanently store the greenhouse gas substance in the identified greenhouse gas storage formation concerned—
but is likely to be in such a position within 15 years—
the Minister must give the applicant a written notice (called an offer document ) telling the applicant that the Minister is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks specified in the application.
Notes
1 Section 462 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).
2 If the applicant breaches a requirement under section 461 to provide further information, the Minister may refuse to give the applicant an offer document—see section 461(3).
(2) If—
(a) an application for a greenhouse gas holding lease has been made under section 334(3), (4) or (5); and
(b) the Minister is satisfied that the applicant is not, at the time of the application, in a position to—
(i) inject a greenhouse gas substance into at least one of the identified greenhouse gas storage formations concerned; and
(ii) permanently store the greenhouse gas substance in at least one of the identified greenhouse gas storage formations concerned—
but is likely to be in such a position within 15 years—
the Minister must give the applicant a written notice (called an offer document ) telling the applicant that the Minister is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks specified in the application.
Notes
1 Section 462 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).
2 If the applicant breaches a requirement under section 461 to provide further information, the Minister may refuse to give the applicant an offer document—see section 461(3).