126Refusal to renew petroleum exploration permit

#### 126 Refusal to renew petroleum exploration permit Scope (1) This section applies if an application to renew a petroleum exploration permit has been made under section 119. Refusal on grounds of non‑compliance with conditions (2) If: (a) any of: (i) the conditions to which the petroleum exploration permit is, or has from time to time been, subject; or (ii) the provisions of this Chapter, Chapter 4, Chapter 5A, Chapter 6 and Part 7.1; or (iii) the provisions of the regulations; have not been complied with; and (b) the Joint Authority is not satisfied that there are sufficient grounds to warrant the granting of the renewal of the permit; the Joint Authority must, by written notice given to the applicant, refuse to renew the permit. > Note: Consultation procedures apply—see section 262. Refusal on other grounds (3) The Joint Authority must, by written notice given to the applicant, refuse to renew the permit if the Joint Authority is not satisfied that the technical advice and financial resources available to the applicant are sufficient to: (a) carry out the operations and works that will be authorised by the permit; and (b) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the permit. > Note: Consultation procedures apply—see section 262. (4) The Joint Authority may, by written notice given to the applicant, refuse to renew the permit if the Joint Authority is not satisfied of the matters (if any) prescribed by the regulations. > Note: Consultation procedures apply—see section 262.