362Application for renewal of greenhouse gas holding lease

362 Application for renewal of greenhouse gas holding lease

(1) The registered holder of a greenhouse gas holding lease (other than a special greenhouse gas holding lease) may apply to the Minister for the renewal by the Minister of the lease.

(2) A greenhouse gas holding lease cannot be renewed more than once.

(3) An application to renew a greenhouse gas holding lease must be made—

(a) not more than 12 months before the expiry date of the lease; and

(b) at least 180 days before the expiry date of the lease.

(4) Despite subsection (3), the Minister may accept an application to renew a greenhouse gas holding lease if the application is made—

(a) later than 180 days before the expiry date of the lease; and

(b) before the expiry date of the lease.

(5) An application to renew a greenhouse gas holding lease must be accompanied by details of—

(a) the lessee's proposals for work and expenditure in relation to the lease area; and

(a) a greenhouse gas holding lessee makes an application to renew the lease; and

(b) the lease would, apart from this subsection, expire—

(i) before the Minister grants, or refuses to grant, the renewal of the lease; or

(ii) before the application lapses as provided by section 463—

(c) the Minister grants, or refuses to grant, the renewal of the lease; or

(d) the application lapses—

(7) Subsection (6) has effect subject to this Chapter but despite section 332.