101Grant of special petroleum exploration permit

101 Grant of special petroleum exploration permit

(a) an applicant has been given an offer document under section 99 or 100; and

(b) the applicant has made a request under section 256 in relation to the offer document within the period applicable under that section; and

(c) the applicant has paid the specified balance within the period applicable under section 257—

the Minister must grant the applicant a petroleum exploration permit over the block or blocks specified in the offer document.

1 If the applicant does not make a request under section 256 within the period applicable under that section, the application lapses at the end of that period—see section 256(4).

2 If the applicant has not paid the specified balance within the period applicable under section 257, the application lapses at the end of that period—see section 257(2).

(2) For the purposes of this section, the specified balance is the balance specified in the offer document as the balance of the amount that the applicant must pay for the grant of the petroleum exploration permit.

Pt 2.2 Div. 4A (Heading and s. 101A) inserted by No. 16/2018 s. 11.