PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 392BG Requirement to continue geothermal or GHG coordination arrangement after renewal of or dealing with petroleum lease

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 392BG

392BG Requirement to continue geothermal or GHG coordination arrangement after renewal of or dealing with petroleum lease

(1) This section applies if—

(a) a petroleum lease has an overlapping authority (geothermal or GHG) that is a geothermal lease or GHG lease (the
"other lease" ); and

(b) a geothermal coordination arrangement or GHG coordination arrangement applies to the petroleum lease; and

(c) any of the following take place for the petroleum lease—

(i) a renewal;

(ii) a transfer;

(iii) a subletting of the lease or a share in the petroleum lease.

(2) It is a condition of the petroleum lease that its holder must continue to be a party to the following for the lease while the other lease continues in force—

(a) if the other lease is a geothermal lease—a geothermal coordination arrangement;

(b) if the other lease is a GHG lease—a GHG coordination arrangement.