Victorian Current Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 418

    (1)     If—

        (a)     a greenhouse gas injection licence is in force; and

        (b)     the greenhouse gas injection licence is tied to a petroleum retention lease or petroleum production licence; and

        (c)     the petroleum retention lease or petroleum production licence ceases to be in force as a result of being surrendered, cancelled, terminated or wholly revoked—

the licensee of the greenhouse gas injection licence must, within the application period, make an application under section 414(1) for a site closing certificate in relation to the identified greenhouse gas storage formation, or each of the identified greenhouse gas storage formations, specified in the greenhouse gas injection licence.

Penalty:     120 penalty units.

    (2)     The application period for an application referred to in subsection (1) is—

        (a)     the period of 30 days after the day on which the cessation referred to in subsection (1)(c) occurred; or

        (b)     such longer period, not more than 90 days after that day, as the Minister allows.

    (3)     The Minister may allow a longer period under subsection (2)(b) only on written application made by the licensee within the period of 30 days mentioned in subsection (2)(a).

S. 418A inserted by No. 26/2021 s. 30.