OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 401 Commonwealth to assume long - term liability if licensee has ceased to exist

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 401

Scope

  (1)   This section applies if:

  (a)   a site closing certificate is in force in relation to an identified greenhouse gas storage formation; and

  (b)   when the application for the certificate was made, the formation was specified in a greenhouse gas injection licence; and

  (c)   there is a closure assurance period in relation to the formation; and

  (d)   a person who has been the registered holder of the licence (whether or not the licence is in force) has ceased to exist; and

  (e)   if the person had continued in existence, the following conditions would have been satisfied in relation to a liability of the person:

  (i)   the liability is a liability for damages;

  (ii)   the liability is attributable to an act done or omitted to be done in the carrying out of operations authorised by the licence in relation to the formation;

  (iii)   the liability is incurred or accrued after the end of the closure assurance period in relation to the formation;

  (iv)   such other conditions (if any) as are specified in the regulations; and

  (f)   apart from this section, the damages are irrecoverable because the person has ceased to exist.

Commonwealth to assume liability

  (2)   The liability is taken to be a liability of the Commonwealth.