262Retention leases

262 Retention leases (1) Despite anything to the contrary in this Act, if a retention lease is in force immediately before the moratorium commencement— (a) for the purposes of section 42, the day on which the lease is taken to have been registered in the petroleum register is the day after the day on which the moratorium period ends; and (b) the date on which the lease is taken to expire is 5 years from the day after the day on which the moratorium period ends. (2) Despite anything to the contrary in section 102, if a retention lease is in force immediately before the moratorium commencement, the Minister may vary any condition imposed on the lease that is in force immediately before the commencement of section 29 of the **Petroleum Legislation Amendment Act 2020**. S. 263 inserted by No. 20/2020 s. 29.