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MINES LEGISLATION (STREAMLINING) AMENDMENT ACT 2012 No. 20 - SECT 269 269 Insertion of new ch 2, pt 2, div 7, sdiv 3

MINES LEGISLATION (STREAMLINING) AMENDMENT ACT 2012 No. 20 - SECT 269

269 Insertion of new ch 2, pt 2, div 7, sdiv 3

After section 175—

insert—

'The holder of a petroleum lease may apply to change the production commencement day for the lease to a new day only if—

(a) the holder has a relevant arrangement in place to supply petroleum produced from the area of the lease; and
(b) the day by which petroleum production under the lease is to start is more than 2 years after the day the lease took effect; and
(c) the application is made no later than 1 year before the day by which petroleum production under the lease is to start.

'An application to change a production commencement day to a new day must—

(a) be made to the Minister in the approved form; and
(b) state—
(i) the proposed new day; and
(ii) the grounds for seeking the change; and
(c) be supported by information, documents or instruments detailing—
(i) the petroleum production required under all relevant arrangements relating to the lease; and
(ii) the reserves, resources and characteristics of natural underground reservoirs of all petroleum authorities required to supply petroleum under the relevant arrangements; and
(d) be accompanied by the fee prescribed under a regulation.

'(1) After receiving an application to change a production commencement day to a new day, the Minister must decide whether or not to make the change.

'(2) The Minister may, if the holder of the lease agrees in writing, change the production commencement day for the lease to another day.

'(3) In deciding the application, the Minister must consider—

(a) whether the holder has substantially complied with the lease; and
(b) whether petroleum production under the lease will be optimised in the best interests of the State; and
(c) the public interest.

'(4) If the Minister decides to change the production commencement day to a new day, the Minister must amend the lease to give effect to the change.

Note—
A change in the production commencement day may require a later development plan for the lease to be lodged—see section 159.

'If the Minister decides not to change the production commencement day for a lease to a new day, the Minister must give the applicant an information notice about the decision.'.