PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 63

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 63

63 .         Term of licence

        (1)         Subject to this Part, a licence granted before the commencement of the Petroleum and Energy Legislation Amendment Act 2010 section 41(3) remains in force —

            (a)         in the case of a licence granted otherwise than by way of renewal of a licence, for a period of 21 years commencing on the day on which the licence is granted or, if a later day is specified in the licence as being the day on which the licence is to come into force, on that later day; and

            (b)         in the case of a licence granted by way of the first renewal of a licence, for the period of 21 years commencing on the day on which the licence is granted or, if a later day is specified in the licence as being the day on which the licence is to come into force, on that later day; and

            (c)         in the case of a licence granted by way of the second renewal of a licence — indefinitely.

        (2)         Subject to this Part, a licence granted after the commencement of the Petroleum and Energy Legislation Amendment Act 2010 section 41(3), other than a petroleum production licence granted under section 61A, remains in force indefinitely.

        (3)         Subject to this Part, a petroleum production licence granted under section 61A remains in force for the period of 21 years commencing on the day on which the licence is granted.

        [Section 63 inserted: No. 12 of 1990 s. 48; amended: No. 42 of 2010 s. 41; No. 7 of 2017 s. 20.]