74Surrender of licence

74 Surrender of licence

(1) A licence holder may apply to the Minister, in writing, for the Minister to consent to the surrender of the licence in respect of an area (the surrender area) that is the whole or a part of the licence area.

Note: A licence may be surrendered before, on or after the end day of the licence.

(2) The application must: (a) specify the surrender area; and (b) set out the reasons for the surrender; and (c) set out how each of the requirements in subsection (3) has been met. (3) The Minister must, by written notice to the licence holder, consent to the surrender if: (a) the licence holder has paid all fees and amounts due and payable under this Act or the Offshore Electricity Infrastructure (Regulatory Levies) Act 2021, or has made arrangements for the payment of those fees and amounts that are satisfactory to: (i) for a fee charged by the Regulator on behalf of the Commonwealth—the Regulator; or (ii) for any other amount—the Registrar; and (b) the licence holder is in compliance with all of the conditions of the licence; and (c) the licence holder is in compliance with any other obligations under this Act in relation to the licence or the surrender area; and (d) if there is a management plan for the licence—the licence holder is in compliance with any requirements that, under the management plan, must be complied with for the licence to be surrendered; and (e) the licence holder has either: (i) to the satisfaction of the Regulator, removed or caused to be removed from the surrender area all equipment or other property brought into the surrender area by any person engaged or concerned in the activities authorised by the licence; or (ii) made arrangements that are satisfactory to the Regulator in relation to that equipment or property; and (f) the licence holder has, to the satisfaction of the Regulator, made good any damage to the seabed or subsoil, or any other environmental damage, in the Commonwealth offshore area (whether inside or outside the surrender area) caused by any person engaged or concerned in the activities authorised by the licence; and (g) if the surrender area is a part of the licence area, and the licence is not a transmission and infrastructure licence—the remaining licence area would be continuous.

Note: For review of decisions, see section 297.

(4) If the Minister gives consent to the surrender, the licence holder may, by written notice to the Registrar accompanied by the notice of the Minister’s consent, surrender the licence in respect of the surrender area. (5) The Registrar must, by notifiable instrument, give notice of the surrender. The surrender takes effect when the notice under this subsection is registered on the Federal Register of Legislation. (6) When the surrender takes effect: (a) if the surrender relates to the whole of the licence area—the licence ceases to be in force; or (b) if the surrender relates to part of the licence area—that part ceases to be part of the licence area.