(1) The holder of a petroleum title must prepare and lodge
reports of all operations carried out under the petroleum title.
Note : Clause
6 (2) (g) of Schedule 1B provides that reports may also be required by the
conditions of a petroleum title.
(2) The regulations may make provision for
or with respect to the following--
(a) the content, form or lodgment of the
reports,
(b) the exemption of any person, class of persons, petroleum titles
or class of petroleum titles from a requirement of this section or the
regulations under this section.
(3) A person who fails, without reasonable
excuse, to prepare or lodge a report in accordance with this section or the
regulations is guilty of an offence.
: Maximum penalty--
(a) in the case of a
corporation--10,000 penalty units, and, in the case of a continuing offence, a
further penalty of 1,000 penalty units for each day that the offence
continues, or
(b) in the case of a natural person--2,000 penalty units, and,
in the case of a continuing offence, a further penalty of 200 penalty units
for each day that the offence continues.
(4) If there is an inconsistency
between a condition of a petroleum title and a reporting requirement imposed
under this section, the condition prevails to the extent of the inconsistency.
