265Extension of term of petroleum exploration permit or petroleum retention lease—suspension of conditions

#### 265 Extension of term of petroleum exploration permit or petroleum retention lease—suspension of conditions Scope (1) This section applies if, under section 264, the Joint Authority decides to suspend any of the conditions to which a petroleum exploration permit or petroleum retention lease is subject. Extension of term (2) If the Joint Authority considers that the circumstances make it reasonable to do so, the Joint Authority may extend the term of the permit or lease by a period that the Joint Authority considers appropriate. (3) In considering what period of extension may be appropriate, the Joint Authority must have regard to: (a) the length of the period of suspension; and (b) such other matters (if any) as the Joint Authority considers relevant. (4) The extension may be: (a) in the notice of suspension; or (b) by a later written notice given to the permittee or lessee. (5) Subsection (2) has effect subject to this Chapter but despite: (a) in the case of a petroleum exploration permit—section 102; and (b) in the case of a petroleum retention lease—section 139.