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Petroleum Act 1984
93ARegistration of transfers
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93A Registration of transfers
(1) If the Minister approves a transfer under section 93, the Minister
must:
(a) record the approval by endorsing a memorial of approval on
the instrument electronically or in such other manner as the
Minister thinks appropriate; and
(b) request the Registrar to enter in the Register a memorial of
the transfer and the name of the transferee.
(2) A transfer is registered as soon as a memorial of the transfer and
the name of the transferee has, under subsection (1), been entered
in the Register and, upon that memorial being entered, the
transferee becomes the registered holder of the interest in the
exploration permit or licence to which the instrument of transfer
relates.
(3) A copy of an instrument of transfer endorsed with the memorial of
approval shall be retained by the Registrar and is subject to
inspection in accordance with this Part, and the instrument of
transfer endorsed with the memorial of approval shall be returned to
the person who lodged the application for the transfer.
(4) An instrument of transfer of an interest in an exploration permit or
licence does not convey a legal or equitable interest in the permit or
licence until the transfer is approved by the Minister and entered in
the Register under this section.
Petroleum Act 1984 117
(4A) When a transfer is approved and entered in the Register:
(a) the transferee and all other registered holders of an interest in
the permit or licence are jointly liable to comply with this Act,
including the conditions to which the permit or licence is, from
time to time, subject; and
(b) the transferee is responsible for any liability or requirement
applying in relation to the transferor with respect to the permit
or licence immediately before the transfer takes effect.