254Effect of repeal on existing permits

254 Effect of repeal on existing permits (1) In this section ***petroleum exploration permit*** means any petroleum exploration permit that was in force under the **Petroleum Act 1958** immediately before this section came into operation. (2) Every petroleum exploration permit is deemed to be an exploration permit— (a) that is subject to all the conditions and restrictions that applied to the permit immediately before this section came into operation (including the restrictions imposed directly by the **Petroleum Act 1958** that were current at that time); and (b) that is to expire on the date it would have expired if the **Petroleum Act 1958** had not been repealed (unless it is surrendered or cancelled before that date under this Act). (3) Any right to extend a petroleum exploration permit is extinguished. However, a deemed exploration permit may be renewed in accordance with this Act. (4) If an application to extend a petroleum exploration permit was made to the Minister in accordance with section 68 of the **Petroleum Act 1958** and had not been determined at the time this section came into operation, then the application is to be treated as if it was an application for the renewal of an exploration permit under this Act. (5) The conditions and restrictions that apply to a deemed exploration permit may be varied in accordance with this Act. (6) For the purposes of subsection (5), a restriction is to be treated as if it was a condition. (7) On the application of the holder of a deemed exploration permit, the Minister may grant a renewed exploration permit without reducing the permit area, or without reducing it by at least 50%, even if none of the requirements listed in section 32(4) have been satisfied.