Greenhouse Gas Storage Act 2009
sec.129Provisions for preferred tenderers
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sec.129 Provisions for preferred tenderers
The Minister may require a preferred tenderer for the call for tenders to— pay any amounts necessarily incurred or to be incurred to enable the GHG lease to be granted; and to do all or any of the following within a stated reasonable period— pay the annual rent for the first year of the GHG lease; give security for the GHG lease as required under section 271 . If a preferred tenderer does not— comply with a requirement under subsection (1) ; or do all things reasonably necessary to allow a GHG lease to be granted to the tenderer; the Minister may appoint another tenderer to be the preferred tenderer. (sec.129-ssec.1) The Minister may require a preferred tenderer for the call for tenders to— pay any amounts necessarily incurred or to be incurred to enable the GHG lease to be granted; and to do all or any of the following within a stated reasonable period— pay the annual rent for the first year of the GHG lease; give security for the GHG lease as required under section 271 . (sec.129-ssec.2) If a preferred tenderer does not— comply with a requirement under subsection (1) ; or do all things reasonably necessary to allow a GHG lease to be granted to the tenderer; the Minister may appoint another tenderer to be the preferred tenderer.
- (a) pay any amounts necessarily incurred or to be incurred to enable the GHG lease to be granted; and
- (b) to do all or any of the following within a stated reasonable period— (i) pay the annual rent for the first year of the GHG lease; (ii) give security for the GHG lease as required under section 271 .
- (i) pay the annual rent for the first year of the GHG lease;
- (ii) give security for the GHG lease as required under section 271 .
- (i) pay the annual rent for the first year of the GHG lease;
- (ii) give security for the GHG lease as required under section 271 .
- (a) comply with a requirement under subsection (1) ; or
- (b) do all things reasonably necessary to allow a GHG lease to be granted to the tenderer;