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PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 24 Consideration of application

PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 24

Consideration of application

(1)  Where, at the expiration of the period specified in a notice published under section 22 (1) , only one application has been made under that subsection in respect of the block or blocks specified in the notice, the Minister may reject the application or may, by instrument in writing served on the applicant, inform the applicant that he is prepared to grant to him a permit in respect of that block or those blocks.
(2)  Where, at the expiration of the period specified in a notice published under section 22 (1) , 2 or more applications have been made under that subsection in respect of the block or blocks specified in the notice, the Minister may reject any or all of the applications and, if he does not reject all the applications, may –
(a) if only one application remains unrejected – by instrument in writing served on the applicant; or
(b) if 2 or more applications remain unrejected – by instrument in writing served on the applicant, or on one of the applicants, whose application has not been rejected and who has specified as the amount that he is prepared to pay in respect of the grant of a permit to him an amount that is not less than the amount specified by any other applicant whose application has not been rejected –
inform him that he is prepared to grant to him a permit in respect of that block or those blocks.
(3)  Where an application is made under section 22 (2) , the Minister may reject the application or may, by instrument in writing served on the applicant, inform the applicant that he is prepared to grant to him a permit in respect of the block or blocks specified in the application.
(4)  Where the Minister serves on an applicant an instrument under this section, he shall, by the instrument, inform the applicant that he will be required to lodge a security for compliance with the conditions to which the permit, if granted, will from time to time be subject and with the provisions of this Part and of the regulations.
(5)  An instrument under this section shall contain –
(a) a summary of the conditions subject to which the permit is to be granted; and
(b) a statement to the effect that the application will lapse if the applicant does not –
(i) make a request under section 25 (1) ; and
(ii) pay the balance of the amount to be paid in respect of the grant of the permit to him or enter into an agreement under section 109 in respect of that balance; and
(iii) lodge with the Minister the security referred to in the instrument.