112ACash‑bid petroleum exploration permit—highest cash bids at or over the reserve price

#### 112A Cash‑bid petroleum exploration permit—highest cash bids at or over the reserve price Scope (1) This section applies in relation to a cash bid (a qualifying cash bid) under section 111 by an eligible applicant for the grant of a cash‑bid petroleum exploration permit that is equal to or higher than the reserve price determined under section 110. Issue of offer documents etc. (2) The following table sets out the circumstances in which the Joint Authority must give an offer document, or an invitation to make a tie‑breaking cash bid, to an eligible applicant who makes a qualifying cash bid. ```html <table cellspacing="0" cellpadding="0" style="margin-left:0.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:343.5pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Issue of offer documents or tie</span><span>‑</span><span>breaking invitations</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:148.5pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>If …</span></p></td><td style="width:148.5pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>the Joint Authority must …</span></p></td></tr></thead><tbody><tr><td style="width:24.9pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:148.5pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the applicant’s cash bid is:</span></p><p class="Tablea"><span>(a) the only qualifying cash bid; or</span></p><p class="Tablea"><span>(b) the single highest qualifying cash bid</span></p></td><td style="width:148.5pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>give a written notice (called an </span><span style="font-weight:bold; font-style:italic">offer document</span><span>) to the applicant telling the applicant that the Joint Authority is prepared to grant the permit to the applicant.</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:148.5pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2 or more eligible applicants (</span><span style="font-weight:bold; font-style:italic">tied applicants</span><span>) make qualifying cash bids that are:</span></p><p class="Tablea"><span>(a) equal to each other’s cash bids; and</span></p><p class="Tablea"><span>(b) either the only qualifying cash bids, or higher than all the other qualifying cash bids</span></p></td><td style="width:148.5pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>invite each tied applicant, by written notice (a </span><span style="font-weight:bold; font-style:italic">tie</span><span style="font-weight:bold; font-style:italic">‑</span><span style="font-weight:bold; font-style:italic">breaking invitation</span><span>), to make a higher cash bid within a period stated in the tie</span><span>‑</span><span>breaking invitation.</span></p></td></tr></tbody></table> ``` > Note 1: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions). > Note 2: If an applicant breaches a requirement under section 258 to provide further information, the Joint Authority may refuse to give the applicant an offer document.