OFFSHORE MINERALS ACT 1994 - SECT 40 Steps involved in the grant of a fully effective licence
OFFSHORE MINERALS ACT 1994 - SECT 40
Steps involved in the grant of a fully effective licence(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;