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PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 874 What are the transitional notional sub-blocks for a converted ATP

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 874

What are the transitional notional sub-blocks for a converted ATP

874 What are the transitional notional sub-blocks for a converted ATP

(1) The
"transitional notional sub-blocks" , for a converted ATP, are the sub-blocks stated in the instrument for the converted ATP at the start of its current term.
(2) However, the
"transitional notional sub-blocks" do not include any of the sub-blocks stated in the instrument that are completely within the area of a petroleum lease or 1923 Act lease.
(3) For subsection (1), if the instrument—
(a) states that the area of the converted ATP includes land within a block; but
(b) does not include or exclude any particular sub-block within that block;
the reference to the block is a reference to all sub-blocks within the block, other than any sub-block that is completely within the area of another petroleum tenure or a 1923 Act petroleum tenure.