PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 851AD Extended period for applying to change production commencement day

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 851AD

851AD Extended period for applying to change production commencement day

(1) This section applies if a petroleum lease states a production commencement day for the lease, and—

(a) before the commencement of this section, the holder of the lease—

(i) did not start petroleum production under the lease so as to comply with section 154 (1) ; and

(ii) did not make an application under section 175AA to change the production commencement day for the lease; or

(b) on the commencement of this section, the holder of the lease—

(i) reasonably considers the holder is unlikely to be able to start petroleum production under the lease so as to comply with section 154 (1) unless the production commencement day for lease is changed to a later date; and

(ii) either—

(A) is unable to make an application under section 175AA to change the production commencement day because the conditions under that section for making the application can not be complied with; or

(B) reasonably considers the holder is unlikely to be able make a suitable application under section 175AA in the time remaining before the start of 1 year, or shorter prescribed period, mentioned in section 175AA (b) .

(2) Despite section 175AA (b) , the holder may apply under section 175AA in relation to the production commencement day for the lease, but only if—

(a) the application is made no later than 6 months after the commencement of this section; and

(b) the application otherwise complies with chapter 2 , part 2 , division 7 , subdivision 3 .

(3) The holder of the petroleum lease is taken not to be in breach of the holder’s obligation under section 154 (1) until—

(a) if an application under section 175AA is not made as provided for under subsection (2) —the 6 months mentioned in subsection (2) (a) ends; or

(b) if an application under section 175AA is made as provided for under subsection (2) —the Minister decides, under section 175AC , whether to change the production commencement day to a new day, and the decision is not appealed or, if there is an appeal, the appeal is finalised.