261Special petroleum exploration permits and s 181 petroleum production licences—failure to pay

261 Special petroleum exploration permits and s 181 petroleum production licences—failure to pay

If: (a) an offer document specifies the balance of the amount that the applicant must pay to the Commonwealth for the grant of: (i) a special petroleum exploration permit; or (ii) a section 181 petroleum production licence; and (b) the applicant has not paid that balance within the period applicable under column 2 of the table in subsection 260(1); the application lapses at the end of that period.