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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 Contents 1. Short title 2 2. Commencement 2 3. Act amended 2 4. Section 3 amended 2 5. Section 4 amended 3 6. Section 6 amended 3 7. Schedule 2 inserted 3 Schedule 2 -- 2015 variation agreement 144--1B page i Western Australia LEGISLATIVE ASSEMBLY Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 A Bill for An Act to amend the Natural Gas (Canning Basin Joint Venture) Agreement Act 2013. The Parliament of Western Australia enacts as follows: page 1 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 1 1 1. Short title 2 This is the Natural Gas (Canning Basin Joint Venture) 3 Agreement Amendment Act 2015. 4 2. Commencement 5 This Act comes into operation as follows -- 6 (a) sections 1 and 2 -- on the day on which this Act 7 receives the Royal Assent; 8 (b) the rest of the Act -- on the day after that day. 9 3. Act amended 10 This Act amends the Natural Gas (Canning Basin Joint 11 Venture) Agreement Act 2013. 12 4. Section 3 amended 13 (1) In section 3 delete the definition of the Agreement. 14 (2) In section 3 before the 1st alphabetical definition insert in 15 numerical order: 16 17 2015 variation agreement means the agreement a copy 18 of which is set out in Schedule 2; 19 20 (3) In section 3 insert in alphabetical order: 21 22 the Agreement means the scheduled agreement as 23 varied from time to time in accordance with its terms 24 and by the 2015 variation agreement. 25 page 2 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 5 1 5. Section 4 amended 2 After section 4(1) insert: 3 4 (2A) The 2015 variation agreement is ratified. 5 6 6. Section 6 amended 7 In section 6(2) after "agreement" insert: 8 9 or the 2015 variation agreement 10 11 7. Schedule 2 inserted 12 After Schedule 1 insert: 13 14 Schedule 2 -- 2015 variation agreement 15 [s. 3] 16 2015 17 18 THE STATE OF WESTERN AUSTRALIA 19 20 and 21 22 BURU ENERGY LIMITED 23 ACN 130 651 437 24 DIAMOND RESOURCES (FITZROY) PTY LTD 25 ACN 145 113 177 page 3 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 1 DIAMOND RESOURCES (CANNING) PTY LTD 2 ACN 145 113 186 3 4 and 5 6 MITSUBISHI CORPORATION 7 8 NATURAL GAS (CANNING BASIN JOINT VENTURE) 9 AGREEMENT 2012 10 RATIFIED VARIATION AGREEMENT 11 12 13 14 15 16 State Solicitor's Office 17 141 St George's Terrace 18 Perth WA 6000 19 Telephone: (08) 9264 1888 page 4 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 1 THIS AGREEMENT is made this 1st day of July 2015 2 BETWEEN 3 THE HONOURABLE COLIN JAMES BARNETT, MEc., M.L.A., Premier 4 of the State of Western Australia, acting for and on behalf of the said State and 5 its instrumentalities from time to time (hereinafter called the State) of the first 6 part 7 AND 8 BURU ENERGY LIMITED ACN 130 651 437 of Level 2, 88 William Street, 9 Perth, Western Australia, DIAMOND RESOURCES (FITZROY) PTY LTD 10 ACN 145 113 177 of Level 36, 120 Collins Street, Melbourne, Victoria and 11 DIAMOND RESOURCES (CANNING) PTY LTD ACN 145 113 186 of 12 Level 36, 120 Collins Street, Melbourne, Victoria (hereinafter collectively 13 called the Joint Venturers in which term shall be included their successors and 14 permitted assigns) of the second part 15 AND 16 MITSUBISHI CORPORATION of 3-1, Marunouchi 2-Chome, Chiyoda-Ku, 17 Tokyo, Japan (Guarantor) of the third part. 18 RECITALS: 19 A. The State, the Joint Venturers and the Guarantor are parties to the 20 agreement ratified by the Natural Gas (Canning Basin Joint Venture) 21 Agreement Act 2013 (WA). This agreement is referred to in this 22 Agreement as the "Principal Agreement". 23 B. The State, the Joint Venturers and the Guarantor wish to vary the 24 Principal Agreement on the terms set out in this Agreement. 25 THE PARTIES agree as follows: 26 1. Ratification and operation 27 (1) This Agreement, other than this clause, does not come into operation 28 except in accordance with subclause (2). 29 (2) This Agreement, other than this clause, comes into operation on the 30 day on which it is ratified by an Act of the Parliament of Western 31 Australia ("Operative Date") unless, before that day, it terminates 32 under subclauses (4) or (5). page 5 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 1 (3) The State must introduce in the Parliament of Western Australia 2 before 30 September 2015 or a later date agreed between the parties to 3 this Agreement, a Bill to ratify this Agreement and must endeavour to 4 secure its passage as an Act. 5 (4) If by 31 March 2016 this Agreement has not been ratified by an Act 6 of the Parliament of Western Australia then, unless the parties to this 7 Agreement otherwise agree, this Agreement terminates on that day 8 and no party hereto will have any claim against any other party hereto 9 with respect to any matter or thing arising out of, done, performed, or 10 omitted to be done or performed under this Agreement. 11 (5) The parties agree that if the Principal Agreement is otherwise 12 determined in accordance with its provisions on a day prior to the 13 Operative Date, then this Agreement shall also terminate on and from 14 that day and no party hereto will have any claim against any other 15 party hereto with respect to any matter or thing arising out of, done, 16 performed, or omitted to be done or performed under this Agreement. 17 2. Variations of Principal Agreement 18 The Principal Agreement is hereby varied as follows: 19 (1) in clause 1 in the definition of "Suspension Period" by deleting 20 "2020" and substituting "2022"; 21 (2) in subclause (2) of clause 8 by deleting "2016" and substituting 22 "2018"; 23 (3) in subclause (1) of clause 10 by deleting "2014" and substituting 24 "2016"; 25 (4) in subclause (1) of clause 11 by deleting "2016" and substituting 26 "2018"; 27 (5) in subclause (6) of clause 12 by deleting "2018" and substituting 28 "2020"; 29 (6) in subclause (1) of clause 20 by deleting "2014" and substituting 30 "2016"; and page 6 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 1 (7) in subclause (4) of clause 35 by: 2 (a) deleting "2015" and substituting "2017"; and 3 (b) deleting "2016" and substituting "2018". 4 5 6 EXECUTED as a deed. 7 8 9 SIGNED by THE HONOURABLE COLIN ) JAMES BARNETT in the presence of: ) [Signature] ) 10 11 [Signature] 12 Witness: 13 Full Name of Witness: NICOLE JANE HENDERSON 14 15 16 17 18 EXECUTED by BURU ENERGY LIMITED ) ACN 130 651 437 in accordance with ) section 127 of the Corporations Act 2001 ) (Commonwealth): 19 20 [Signature] [Signature] Signature of director: Signature of company Name of director: Eric Streitberg secretary: Name of company secretary: Shane McDermott 21 22 23 page 7 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 EXECUTED by DIAMOND RESOURCES ) (FITZROY) PTY LTD ACN 145 113 177 in ) accordance with section 127 of the ) Corporations Act 2001 (Commonwealth): 1 2 [Signature] [Signature] Signature of director: Signature of director: Name of director: Masaki Name of director: Masayuki Fujiwara Moroi 3 EXECUTED by DIAMOND RESOURCES ) (CANNING) PTY LTD ACN 145 113 186 in ) accordance with section 127 of the ) Corporations Act 2001 (Commonwealth): 4 5 [Signature] [Signature] Signature of director: Signature of director: Name of director: Masaki Name of director: Masayuki Fujiwara Moroi 6 7 8 9 page 8 Natural Gas (Canning Basin Joint Venture) Agreement Amendment Bill 2015 s. 7 SIGNED for and on behalf of MITSUBISHI ) CORPORATION in the presence of: ) ) 1 2 [Signature] Signature of witness: Signature of duly authorised Name: MASAKI FUJIWARA representative [Signature] Name: Makoto Tsurusaki Title: Senior Vice President Division COO, E&P Business Division Energy Business Group 3 4
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