MINERAL AND ENERGY RESOURCES (COMMON PROVISIONS) ACT 2014 No. 47 - SECT 170 170 Minimising compensation liability
MINERAL AND ENERGY RESOURCES (COMMON PROVISIONS) ACT 2014 No. 47 - SECT 170
170 Minimising compensation liability(1) An ML (coal) holder and a petroleum resource authority holder must both take all reasonable steps to minimise compensation liability in the way, and consistent with the principles, prescribed by regulation.
(2) If, after complying with subsection (1), the ML (coal) holder continues to have a compensation liability to the petroleum resource authority holder, the ML (coal) holder must, to the extent reasonable, offer the petroleum resource authority holder an amount of coal seam gas that is equal to the amount of the compensation liability.
(3) If, after complying with subsection (2), the ML (coal) holder continues to have a compensation liability to the petroleum resource authority holder, the ML (coal) holder must give the petroleum resource authority holder a payment equal to the amount of the compensation liability.