64Discovery to be notified

64 Discovery to be notified (1) If petroleum is discovered within an exploration permit or licence area, the permittee or licensee must: (a) notify the Minister of the discovery by using the approved form within 3 days after the discovery and in any case before any announcement is made about the discovery to the Australian Securities Exchange or to the general public; and (b) provide the Minister with a report on the evaluation of the discovery by using the approved form within 3 months after the date of the discovery. licensee is subject to a requirement under subsection (1) and the permittee or licensee fails to comply with that requirement. Maximum penalty: 400 penalty units. (4) The Minister may, by written notice, direct a permittee or licensee to provide further particulars of a discovery notified under (5) A notice under subsection (4) may direct the permittee or licensee to provide the particulars: (a) in a manner and form specified in the notice; and (b) within a period specified in the notice. (6) A permittee or licensee commits an offence if the permittee or licensee is given a direction under subsection (4) and the permittee or licensee contravenes the direction. (7) An offence against subsection (6) is an offence of strict liability. (8) It is a defence to a prosecution for an offence against subsection (2) or (6) if the defendant took reasonable steps and (9) The defendant has a legal burden of proof in relation to a matter mentioned in subsection (8).

Petroleum Act 1984 79