267Extension of term of petroleum exploration permit or petroleum retention lease—suspension of rights

267 Extension of term of petroleum exploration permit or petroleum retention lease—suspension of rights

Scope (1) This section applies if rights conferred by a petroleum exploration permit or petroleum retention lease are suspended under section 266. Extension of term (2) The Joint Authority may extend the term of the permit or lease by a period not more than the period of the suspension. (3) The extension may be: (a) in the notice of suspension; or (b) by a later written notice given to the permittee or lessee.