387Grant of greenhouse gas injection licence

387 Grant of greenhouse gas injection licence

If—

(a) an applicant has been given an offer document under section 382 or 383; and

(b) the applicant has made a request under section 463 in relation to the offer document within the period applicable under that section; and

(c) if the offer document specified the form and amount of a security to be lodged by the applicant—the applicant has lodged the security within the period applicable under section 465—

the Minister must grant the applicant a greenhouse gas injection licence over the block or blocks specified in the offer document.

1 If the applicant does not make a request under section 463 within the period applicable under that section, the application lapses at the end of that period—see section 463(4).

2 If the applicant has not lodged the security within the period applicable under section 465, the application lapses at the end of that period—see section 465.

388 Deferral of decision to grant greenhouse gas injection licence—pending application for post‑commencement petroleum exploration permit

(a) an application for the grant of a greenhouse gas injection licence has been made under section 379; and

(b) when the application for the greenhouse gas injection licence was made, an application for a post‑commencement petroleum exploration permit was being considered by the Minister; and

(c) the Minister considers that it would be in the public interest to defer taking any action under section 382, 383 or 386 in relation to the application for the grant of the greenhouse gas injection licence until the application for the post‑commencement petroleum exploration permit is finalised.

(2) The Minister must not take any action under section 382, 383 or 386 in relation to the application for the greenhouse gas injection licence until 24 hours after whichever of the following events happens first—

(a) the Minister grants the post‑commencement petroleum exploration permit to the applicant for the permit;

(b) the application for the post‑commencement petroleum exploration permit lapses;

(c) the Minister refuses to grant the post‑commencement petroleum exploration permit to the applicant for the permit.

389 Greenhouse gas assessment permit or greenhouse gas holding lease ceases to be in force when greenhouse gas injection licence comes into force

When a greenhouse gas injection licence under section 387 comes into force in relation to one or more blocks, a greenhouse gas assessment permit or greenhouse gas holding lease ceases to be in force to the extent to which it relates to those blocks.