PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 80A
PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 80A
80A—Approval of dealings in future interests etc
(1) Where two or more
persons enter into a dealing relating to a title that may come into existence
in the future and that dealing would, if the title came into existence, become
a dealing to which section 80 applies, a person who is a party to the
dealing may, during the prescribed period in relation to the title, lodge with
the Minister—
(a) in a
case where the dealing relates to only one title that may come into existence
in the future, a provisional application in writing for approval by the
Minister of the dealing; or
(b) in
any other case, a separate provisional application in writing for approval by
the Minister of the dealing in relation to each title that may come into
existence in the future and to which the dealing relates.
(2)
Sections 80(4), (4a), (7) and (8) apply to a provisional application
lodged under subsection (1) as if that provisional application were an
application lodged under section 80(3).
(3) Where—
(a) the
title to which a dealing referred to in subsection (1) relates comes into
existence; and
(b) upon
that title coming into existence, the dealing becomes a dealing to which
section 80 applies,
the provisional application lodged under subsection (1) in relation to
the dealing shall be treated as if it were an application lodged under
section 80(3) on the day on which that title came into existence.
(4) A reference in
subsection (1) to the prescribed period, in relation to a title, is a
reference to the period—
(a)
commencing—
(i)
in the case of a permit, lease, licence or
pipeline licence—on the day of service of an instrument informing the
applicant for the permit, lease, licence or pipeline licence that the Minister
is prepared to grant the permit, lease, licence or pipeline licence; or
(ii)
in the case of an access authority—on the day on
which the application for the grant of the access authority is made; and
(b)
ending on the day on which the title comes into existence.