PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 42 Provisions of authority to prospect

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 42

42 Provisions of authority to prospect

(1) Each authority to prospect must state its term and area.

(2) The term—

(a) must be for at least the required program period for the initial work program for the authority under the call for tenders; but

(b) must end no later than 12 years after the authority takes effect.

(3) The authority may also state—

(a) conditions or other provisions of the authority, other than conditions or provisions that are—

(i) inconsistent with the mandatory conditions for authorities to prospect; or

(ii) the same as, or substantially the same as, or inconsistent with, any relevant environmental condition for the authority; and

(b) the day it takes effect.

(3A) The conditions of the authority may include an Australian market supply condition applying to all or part of the area of the authority.

(4) However, the provisions of the authority may exclude or restrict the carrying out of an authorised activity for the authority.

(5) The day of effect must not be before the day the authority is granted.

(6) If no day of effect is stated, the authority takes effect on the day it is granted.