Commonwealth Numbered Acts

OFFSHORE PETROLEUM ACT 2006 (NO. 14, 2006) - SECT 96

             (1)  If:

                     (a)  an applicant has been given an offer document under section 94 or 95; and

                     (b)  the applicant has made a request under section 224 in relation to the offer document within the period applicable under that section; and

                     (c)  the applicant has paid the specified balance within the period applicable under section 225;

the Joint Authority must grant the applicant an exploration permit over the block or blocks specified in the offer document.

Note 1:       If the applicant does not make a request under section 224 within the period applicable under that section, the application lapses at the end of that period—see subsection 224(4).

Note 2:       If the applicant has not paid the specified balance within the period applicable under section 225, the application lapses at the end of that period—see subsection 225(2).

             (2)  For the purposes of this section, the specified balance is the balance specified in the offer document as the balance of the amount that the applicant must pay for the grant of the exploration permit.