Greenhouse Gas Storage Act 2009
sec.176Timing of surrender application
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sec.176 Timing of surrender application
If— GHG stream injection under a GHG lease ceases; and all GHG wells in the GHG lease’s area have been decommissioned in the way required under section 267 ; the GHG lease holder must make a surrender application for the lease within 60 business days. Maximum penalty—500 penalty units. The GHG lease holder can not make a surrender application for the lease before all of the events mentioned in subsection (1) have happened. (sec.176-ssec.1) If— GHG stream injection under a GHG lease ceases; and all GHG wells in the GHG lease’s area have been decommissioned in the way required under section 267 ; the GHG lease holder must make a surrender application for the lease within 60 business days. Maximum penalty—500 penalty units. (sec.176-ssec.2) The GHG lease holder can not make a surrender application for the lease before all of the events mentioned in subsection (1) have happened.
- (a) GHG stream injection under a GHG lease ceases; and
- (b) all GHG wells in the GHG lease’s area have been decommissioned in the way required under section 267 ;