121AVariation of petroleum retention leases obtained as result of change to the boundary of the offshore area

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121A Variation of petroleum retention leases obtained as result of change to the boundary of the offshore area

(1) The Minister may, by written notice given to the lessee of a petroleum retention lease granted under section 141A, vary the lease by imposing one or more conditions to which the lease is subject.

(2) A notice under subsection (1) must be given within 14 days after the grant of the lease.

(3) A variation under subsection (1) takes effect on the day on which notice of the variation is given to the lessee.

Section 121A - Offshore Petroleum and Greenhouse Gas Storage Act 2010 - Variation of petroleum retention leases obtained as result of change to the boundary of the offshore area | Zoe