333ALease area of cross‑boundary greenhouse gas holding lease

333A Lease area of cross‑boundary greenhouse gas holding lease

(1) If any part of the lease area of a cross‑boundary greenhouse gas holding lease is included in the Commonwealth defined offshore area, the whole of the lease area is taken, for all purposes of—

(2) If a cross‑boundary greenhouse gas holding lease ceases to be in force, any part of the lease area included in the offshore area is no longer taken to be included in the Commonwealth defined offshore area under subsection (1).

(3) Nothing in this section limits the grant of the following titles in relation to any part of the lease area of a cross‑boundary greenhouse gas holding lease that but for this section would be included in the offshore area—

Division 2—Obtaining a greenhouse gas holding lease

Subdivision 1—Application for greenhouse gas holding lease by the holder of a greenhouse gas assessment permit

334 Application for greenhouse gas holding lease by the holder of a greenhouse gas assessment permit

(a) a greenhouse gas assessment permit is in force; and

(b) one or more identified greenhouse gas storage formations are wholly situated in the permit area.

(2) If a single identified greenhouse gas storage formation extends to—

(a) only one block in the permit area; or

(b) 2 or more blocks in the permit area—

the permittee may, within the application period, apply to the Minister for the grant of a greenhouse gas holding lease over the block or blocks to which the identified greenhouse gas storage formation extends.

(a) 2 or more identified greenhouse gas storage formations, when considered together, extend to only one block in the permit area; and

(b) a vertical line would not pass through a point in each of those identified greenhouse gas storage formations—

the permittee may, within the application period, apply to the Minister for the grant of a greenhouse gas holding lease over the block to which the identified greenhouse gas storage formations, when considered together, extend.

(i) only one block in the permit area; or

(ii) 2 or more blocks in the permit area; and

(b) a vertical line would pass through a point in each of those identified greenhouse gas storage formations—

the permittee may, within the application period, apply to the Minister for the grant of a greenhouse gas holding lease over the block or blocks to which the identified greenhouse gas storage formations, when considered together, extend.

(a) 2 or more identified greenhouse gas storage formations, when considered together, extend to 2 or more blocks in the permit area; and