sec.43Holder must give scheme manager notice if cessation in production

sec.43 Holder must give scheme manager notice if cessation in production

This section applies to an authority if the resource activity for which the authority is given is authorised under any of the following resource authorities— a mining lease or mining development licence under the Mineral Resources Act 1989 ; an authority to prospect or petroleum lease under the Petroleum and Gas (Production and Safety) Act 2004 ; a geothermal production lease under the Geothermal Energy Act 2010 . The holder of the authority must give the scheme manager a notice under this section if, after the start of production under the resource authority— the holder ceases production under the resource authority and does not expect production to restart within 6 months after the cessation; or production has not been carried out under the resource authority for 6 months. Maximum penalty—100 penalty units. The notice must— state the details of the matter mentioned in subsection (2) ; and include the other information prescribed by regulation. The notice must be given within 10 business days after — for the matter mentioned in subsection (2) (a) —the holder ceases production; or for the matter mentioned in subsection (2) (b) —the end of the 6 month period mentioned in that subsection. In this section— production means— for a resource authority mentioned in subsection (1) (a) —an activity mentioned in the Mineral Resources Act 1989 , section 6A (1) (a) or (b) ; or for a resource authority mentioned in subsection (1) (b) —an activity mentioned in the Petroleum and Gas (Production and Safety) Act 2004 , section 15 ; or for a resource authority mentioned in subsection (1) (c) —an activity mentioned in the Geothermal Energy Act 2010 , section 14 . (sec.43-ssec.1) This section applies to an authority if the resource activity for which the authority is given is authorised under any of the following resource authorities— a mining lease or mining development licence under the Mineral Resources Act 1989 ; an authority to prospect or petroleum lease under the Petroleum and Gas (Production and Safety) Act 2004 ; a geothermal production lease under the Geothermal Energy Act 2010 . (sec.43-ssec.2) The holder of the authority must give the scheme manager a notice under this section if, after the start of production under the resource authority— the holder ceases production under the resource authority and does not expect production to restart within 6 months after the cessation; or production has not been carried out under the resource authority for 6 months. Maximum penalty—100 penalty units. (sec.43-ssec.3) The notice must— state the details of the matter mentioned in subsection (2) ; and include the other information prescribed by regulation. (sec.43-ssec.4) The notice must be given within 10 business days after — for the matter mentioned in subsection (2) (a) —the holder ceases production; or for the matter mentioned in subsection (2) (b) —the end of the 6 month period mentioned in that subsection. (sec.43-ssec.5) In this section— production means— for a resource authority mentioned in subsection (1) (a) —an activity mentioned in the Mineral Resources Act 1989 , section 6A (1) (a) or (b) ; or for a resource authority mentioned in subsection (1) (b) —an activity mentioned in the Petroleum and Gas (Production and Safety) Act 2004 , section 15 ; or for a resource authority mentioned in subsection (1) (c) —an activity mentioned in the Geothermal Energy Act 2010 , section 14 .