PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 545 Relinquishment report by tenure holder
PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 545
Relinquishment report by tenure holder545 Relinquishment report by tenure holder
If part of the area of a petroleum tenure is relinquished as required or authorised under this Act, its holder must, within 6 months, lodge a report—
(a) describing—(i) the authorised activities for the tenure carried out in the part; and(ii) the results of the activities; and
(b) including other information prescribed under a regulation.
Note—See chapter 2 , part 1 , division 4 , subdivision 2 (Standard relinquishment condition and related provisions), sections 62 (4) (Deciding application), 148 (Power to require relinquishment), 329 (Power to impose relinquishment condition) and 790 (Types of noncompliance action that may be taken).
Penalty—Maximum penalty—200 penalty units.