112BCash‑bid petroleum exploration permit—tie‑breaking invitation

#### 112B Cash‑bid petroleum exploration permit—tie‑breaking invitation Scope (1) This section applies if the Joint Authority, under section 112A, makes a tie‑breaking invitation to 2 or more tied applicants for the grant of a cash‑bid petroleum exploration permit. Responses to the tie‑breaking invitation (2) Before the end of the period stated in the tie‑breaking invitation, a tied applicant may, by written notice to the Joint Authority, make a further cash bid (a tie‑breaking cash bid) higher than the applicant’s previous cash bid. > Note: A tie‑breaking cash bid must be made in an approved manner (see section 255). (3) The following table sets out the process for dealing with responses (if any) to the tie‑breaking invitation. ```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>Responses to the tie</span><span>‑</span><span>breaking invitation</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>then …</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>a tied applicant makes a tie</span><span>‑</span><span>breaking cash bid within the period stated in the tie</span><span>‑</span><span>breaking invitation that is:</span></p><p class="Tablea"><span>(a) the only tie</span><span>‑</span><span>breaking cash bid; or</span></p><p class="Tablea"><span>(b) the single highest tie</span><span>‑</span><span>breaking 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>the Joint Authority must give a written notice (called an </span><span style="font-weight:bold; font-style:italic">offer document</span><span>) to that tied 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:0.75pt 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:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>there are 2 or more tie</span><span>‑</span><span>breaking cash bids by applicants (</span><span style="font-weight:bold; font-style:italic">further</span><span style="font-weight:bold; font-style:italic">‑</span><span style="font-weight:bold; font-style:italic">tie applicants</span><span>) made within the period stated in the tie</span><span>‑</span><span>breaking invitation that are:</span></p><p class="Tablea"><span>(a) equal to each other; and</span></p><p class="Tablea"><span>(b) either the only tie</span><span>‑</span><span>breaking cash bids, or higher than all the other tie</span><span>‑</span><span>breaking cash bids</span></p></td><td style="width:148.5pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the Joint Authority must give an offer document to the further</span><span>‑</span><span>tie applicant whose tie</span><span>‑</span><span>breaking cash bid was received earliest.</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>3</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>none of the tied applicants makes a tie</span><span>‑</span><span>breaking cash bid within the period stated in the tie</span><span>‑</span><span>breaking invitation</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>the Joint Authority must give an offer document to the tied applicant whose cash bid under section</span><span> </span><span>111 was received earliest.</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.