(1) An inshore block
that immediately before the relevant renewal day is, or forms part of, a
location declared under the Commonwealth Act section 131 or the
Petroleum (Submerged Lands) Act 1982 section 37 is, on and after
the relevant renewal day, to be taken to be a location declared under the
Petroleum and Geothermal Energy Resources Act 1967 section 47.
(2) An adjacent area
block that immediately before the relevant renewal day is, or forms part of, a
location declared under the Commonwealth Act section 131 is, on and after
the relevant renewal day, to be taken to be a location declared under the
Petroleum (Submerged Lands) Act 1982 section 37.