Victorian Consolidated Legislation

Petroleum (Submerged Lands) Act 1982 - SECT 29

Term of permit

29. Term of permit



(1) Subject to this Part, a permit remains in force-



   (a)  in the case of a permit granted otherwise than by way of the renewal
        of a permit-for a period of six years commencing on the day on which
        the permit is granted or, if a later day is specified in the permit as
        being the day on which the permit is to come into force, on that later
        day; and

   (b)  in the case of a permit granted by way of the renewal of a permit-for
        a period of five years commencing on the day on which the permit is
        granted or, if a later day is specified in the permit as being the day
        on which the permit is to come into force, on that later day.

(2) If-

   (a)  a permit in respect of a block or blocks cannot be renewed or further
        renewed; and

   (b)  before the time when the permit would, apart from this subsection,
        expire, the permittee has duly made an application to the Minister for
        the grant of a lease or licence in respect of the block, or one or
        more of the blocks, being a block or blocks that are included in a
        location-

the permit continues in force in respect of the block or blocks to which the
application relates until-

   (c)  if the Minister tells the permittee that the Minister is prepared to
        grant to the permittee a lease or licence in respect of the block or
        one or more of the blocks-such a lease or licence is granted, the
        permittee withdraws the application or the application lapses; or

   (d)  if the Minister decides not to grant to the permittee such a lease-the
        end of the period of one year after the day of the service under
        subsection 38B(2) or (2A) of the instrument of notice refusing to
        grant the lease; or

   (e)  if the Minister decides not to grant to the permittee such a
        licence-notice of the decision is served on the permittee.