PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 221 Negotiation notice

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 221

221 Negotiation notice

(1) This section applies if, as a result of the call for tenders, a petroleum lease (a
"non-owner lease" ) is granted to someone other than a current owner of the stored petroleum or prescribed storage gas.

(2) The Minister must—

(a) give each current owner of the stored petroleum or prescribed storage gas a notice (a
"negotiation notice" ) stating—

(i) who holds the non-owner lease; and

(ii) a period within which all current owners of the stored petroleum or prescribed storage gas have to reach a storage agreement with the holder; and

(b) give the holder a copy of the negotiation notice.