153Application for renewal of petroleum retention lease

#### 153 Application for renewal of petroleum retention lease Application for renewal (1) A petroleum retention lessee may apply to the Titles Administrator for the renewal by the Joint Authority of the lease. (2) An application to renew a petroleum retention lease must be made: (a) not more than 12 months before the expiry date of the lease; and (b) at least 180 days before the expiry date of the lease. (3) Despite subsection (2), the Titles Administrator may accept an application to renew a petroleum retention lease if the application is made: (a) later than 180 days before the expiry date of the lease; and (b) before the expiry date of the lease. (4) An application under this section must: (a) be in the approved form; and (b) be accompanied by any information or documents required by the form. (4A) If the approved form requires the application to be accompanied by information or documents, an application under this section is taken to be accompanied by the information or documents if the information or documents are given to the Titles Administrator before the expiry date of the lease. (4B) For the purposes of subsection (4A), disregard the effect of subsection (5). > Note 1: Part 2.10 contains additional provisions about application procedures. > Note 2: Section 256 requires the application to be accompanied by an application fee. > Note 3: Section 258 enables the Titles Administrator to require the applicant to give further information. Extension of duration of petroleum retention lease pending decision on application (5) If: (a) a petroleum retention lessee makes an application to renew the lease; and (b) the lease would, apart from this subsection, expire: (i) before the Joint Authority grants, or refuses to grant, the renewal of the lease; or (ii) before the application lapses as provided by section 260; the lease continues in force: (c) until the Joint Authority grants, or refuses to grant, the renewal of the lease; or (d) until the application so lapses; whichever happens first. (6) Subsection (5) has effect subject to this Chapter but despite section 139. > Note: See the notes at the end of section 139.