172Petroleum exploration permit or petroleum retention lease transferred—transferee to be treated as applicant

172 Petroleum exploration permit or petroleum retention lease transferred—transferee to be treated as applicant

(1) This section applies if a transfer of a petroleum exploration permit or petroleum retention lease is registered under section 514—

(a) after an application has been made—

(i) under section 164 for the grant of a petroleum production licence over a block in relation to which the petroleum exploration permit is in force; or

(ii) under section 166 for the grant of a petroleum production licence over a block in relation to which the petroleum retention lease is in force; and

(b) before any action has been taken by the Minister under section 167 or 168 in relation to the application.

(2) After the transfer—

(a) in the case of an application under section 164—that section has effect in relation to the application as if any reference in subsection (3) of that section to the applicant were a reference to the transferee; and

(b) in all cases—sections 167 and 170 and Part 2.10 of this Act have effect in relation to the application as if any reference in those sections and that Part to the applicant were a reference to the transferee.

Division 3—Obtaining a cash‑bid petroleum production licence over a surrendered block or similar block