PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48D

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 48D

48D .         Term of lease

        (1)         Subject to this Part, a lease (whether granted by way of renewal of a lease or otherwise and other than a petroleum retention lease granted under section 48CD) remains in force for a period of 5 years commencing on the day on which the lease was granted or, if a later day is specified in the lease as being the day on which the lease is to come into force, on that later day.

        (2)         Subject to this Part, a petroleum retention lease granted under section 48CD remains in force for a period of 5 years commencing on the day on which the lease is granted.

        [Section 48D inserted: No. 12 of 1990 s. 34; amended: No. 7 of 2017 s. 16.]