68Requirement to give notice of significant event

68  Requirement to give notice of significant event

 (1) A petroleum production licensee contravenes this subsection if:

 (a) a significant event occurs in, or in relation to, the licence area; and

 (b) the licensee becomes aware of the significant event; and

 (c) the licensee does not give a written notice, in accordance with subsection (2), of the significant event to the Titles Administrator within 7 days after becoming aware of the event.

 (2) For the purposes of paragraph (1)(c), the notice must include the following information:

 (a) all the material facts and circumstances about the significant event that the licensee is aware of or is able, by reasonable search and inquiry, to find out, including:

 (i) when the event occurred or was first detected; and

 (ii) the implications of the event for the reservoir and the optimum long‑term recovery of petroleum;

 (b) a description of any action taken, or proposed to be taken, in response to the significant event.

 (3) The notice may include any other facts the licensee considers relevant.

 (4) A petroleum production licensee commits an offence of strict liability if the licensee contravenes subsection (1).

Note: This subsection is a continuing offence under section 4K of the Crimes Act 1914. See section 237 of this instrument for the maximum penalty for each day that an offence under this subsection continues.

 (5) A petroleum production licensee is liable to a civil penalty if the licensee contravenes subsection (1).

Note: This subsection is a continuing civil penalty provision under section 93 of the Regulatory Powers Act. See section 237 of this instrument for the maximum civil penalty for each day that a contravention referred to in this subsection continues.