PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 68
Adjustments for sub-blocks that can not be counted
PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 68
Adjustments for sub-blocks that can not be counted
68 Adjustments for sub-blocks that can not be counted
(1) This section
applies for the relinquishment day for an authority to prospect if, after
taking away all sub-blocks that, under section 67, can not be counted for the
relinquishment condition, the balance of the sub-blocks of the authority to
prospect is less than the sub-blocks required to be relinquished under the
usual relinquishment.
(2) The relinquishment condition is taken to have been
complied with if the authority holder gives a relinquishment notice for all of
the balance.
(3) However, if—
(a) a sub-block not counted for the
relinquishment condition was the subject of an application for a potential
commercial area; and
(b) the result of the application is that it is refused;
the authority holder must, within 20 business days after the appeal period for
the decision to refuse, give a relinquishment notice for that sub-block.
