521Dealings to which this Part applies

521 Dealings to which this Part applies

This Part applies to a dealing (other than a transfer of a title) that would have one or more of the effects set out in the table—

| Effects of dealings | | | Item | Effect | | 1 | The creation or assignment of an interest in an existing title. | | 2 | The creation or assignment of a right (conditional or otherwise) to the assignment of an interest in an existing title. | | 3 | The determination of the manner in which persons may—<br>(a) exercise the rights conferred by an existing title; or<br>(b) comply with the obligations imposed by an existing title; or<br>(c) comply with the conditions of an existing title—<br>(including the exercise of those rights, or the compliance with those obligations or conditions, under cooperative arrangements to recover petroleum). | | 4 | The creation or assignment of an interest in relation to an existing petroleum exploration permit, petroleum retention lease or petroleum production licence, where the interest is known as—<br>(a) an overriding royalty interest; or<br>(b) a production payment; or<br>(c) a net profits interest; or<br>(d) a carried interest. | | 5 | The creation or assignment of an interest that is similar to an interest covered by item 4, where the interest relates to—<br>(a) petroleum produced from operations authorised by an existing petroleum exploration permit, petroleum retention lease or petroleum production licence; or<br>(b) revenue derived as a result of the carrying out of operations authorised by an existing petroleum exploration permit, petroleum retention lease or petroleum production licence. | | 6 | The creation or assignment of an option (conditional or otherwise) to enter into a dealing, where the dealing would have one or more of the effects referred to in items 1, 2, 3, 4 and 5. | | 7 | The creation or assignment of a right (conditional or otherwise) to enter into a dealing, where the dealing would have one or more of the effects referred to in items 1, 2, 3, 4 and 5. | | 8 | The alteration or termination of a dealing, where the dealing would have one or more of the effects referred to in items 1, 2, 3, 4, 5, 6 and 7. |