127Declared petroleum retention leases

127 Declared petroleum retention leases

(a) a post‑commencement petroleum retention lease is in force; and

(b) the Minister is satisfied that there is a significant risk that any of the key petroleum operations that could be carried on under the lease will have a significant adverse impact on—

S. 127 (1)(b)(viii) amended by No. 26/2021 s. 16(1)(a).

S. 127(1)(b)(ix) inserted by No. 26/2021 s. 16(1)(b).

S. 127(1)(b)(x) inserted by No. 26/2021 s. 16(1)(b).

the Minister must, by written notice given to the petroleum retention lessee, determine that the petroleum retention lease is a declared petroleum retention lease for the purposes of this Act.

(a) a determination is in force under subsection (1) in relation to a post-commencement petroleum retention lease; and

(b) the Minister is not satisfied that there is a significant risk that any of the key petroleum operations that could be carried on under the lease will have a significant adverse impact on—

S. 127 (2)(b)(viii) amended by No. 26/2021 s. 16(2)(a).

S. 127(2)(b)(ix) inserted by No. 26/2021 s. 16(2)(b).

S. 127(2)(b)(x) inserted by No. 26/2021 s. 16(2)(b).

the Minister must, by written notice given to the petroleum retention lessee, revoke the determination.