Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 40

             (1)  The following 3 steps must occur before a licence comes into force:

                     (a)  provisional grant of the licence;

                     (b)  proper acceptance of the grant;

                     (c)  registration of the grant.

Note:          See sections 88, 154, 232 and 286.

             (2)  If a licence is provisionally granted to a person, the person must do the following to properly accept the grant:

                     (a)  give the Designated Authority a written acceptance;

                     (b)  lodge any security that the Joint Authority has required;

                     (c)  pay the fees that are payable under the Fees Act.

Note:          See sections 70, 84, 151, 214, 228 and 283.

             (3)  The following 3 steps must occur before a renewal of a licence comes into force:

                     (a)  provisional renewal of the licence;

                     (b)  proper acceptance of the renewal;

                     (c)  registration of the renewal.

Note:          See sections 89, 155, 233 and 287.

             (4)  If a licence is provisionally renewed, the holder must do the following to properly accept the renewal:

                     (a)  give the Designated Authority a written acceptance of the renewal;

                     (b)  lodge any security that the Joint Authority has required;

                     (c)  pay the fees that are payable under the Fees Act.

Note:          See sections 114, 173, 250 and 300.