PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 67 Sub-blocks that can not be counted towards relinquishment

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 67

67 Sub-blocks that can not be counted towards relinquishment

(1) The following can not be counted as sub-blocks relinquished for the relinquishment condition—

(a) sub-blocks relinquished under an additional relinquishment condition;

(b) the mere declaration of the sub-blocks as a potential commercial area for the authority;

(c) sub-blocks the subject of an application for a potential commercial area;

(d) sub-blocks relinquished under a penalty relinquishment.

(2) To remove any doubt, it is declared that a potential commercial area can be relinquished and can be counted as an area relinquished for the relinquishment condition.

(3) In this section—


"penalty relinquishment" means a relinquishment that is—

(a) made under section 78A or under a requirement under section 790 (1) (b) ; and

(b) more than the sub-blocks required to be relinquished under the relinquishment condition.