(1) Subject to this
Part, a licence granted before the commencement of the Petroleum and Energy
Legislation Amendment Act 2010 section 107(3) remains in force —
(a) in
the case of a licence granted otherwise than by way of renewal of a licence,
for the period of 21 years commencing on the day on which the licence is
granted or, if a later day is specified in the licence as being the day on
which the licence is to come into force, on the later day; and
(b) in
the case of a licence granted by way of the first renewal of a licence, for
the period of 21 years commencing on the day on which the licence is granted
or, if a later date is specified in the licence as being the day on which the
licence is to come into force, on that later day; and
(c) in
the case of a licence granted by way of the second renewal of a licence
— indefinitely.
(2) Subject to this
Part, a licence granted after the commencement of the Petroleum and Energy
Legislation Amendment Act 2010 section 107(3), other than a licence granted
under section 51A, remains in force indefinitely.
(3) Subject to this
Part, a licence granted under section 51A remains in force for the period of
21 years commencing on the day on which the licence is granted.
[Section 53 amended: No. 12 of 1990 s. 186; No. 42
of 2010 s. 107; No. 7 of 2017 s. 44.]