PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 876 Conversion on 2004 Act start day

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 876

876 Conversion on 2004 Act start day

On 31 December 2004—

(a) the 1923 Act ATP ceases to be a 1923 Act ATP and becomes an authority to prospect under this Act (a
"converted ATP" ); and

(b) the holder of the 1923 Act ATP is the holder of the converted ATP; and

(c) the conditions of the 1923 Act ATP about expenditure or work become a later work program for the converted ATP; and

(d) the period to which the conditions apply is taken to be the plan period for the work program; and

(e) any condition of the 1923 Act ATP ceases to be a condition of the converted ATP if the condition is the same, or substantially the same, as any relevant environmental condition for the 1923 Act ATP; and

(f) the converted ATP continues, subject to this Act, for the balance of the 1923 Act ATP’s term; and

(g) the converted ATP is held subject to this Act and the conditions of the 1923 Act ATP, as modified under this division; and

(h) the area of the 1923 Act ATP becomes the area of the converted ATP.