sec.161Conditions for renewal application

### sec.161 Conditions for renewal application A petroleum lease holder may apply to renew the lease only if none of the following is outstanding— annual rent for the lease; a civil penalty under section 156 for nonpayment of annual rent; rates and charges, including interest on overdue rates and charges, payable to the local government in whose area the lease is situated; interest payable under section 588 on annual rent or a civil penalty; a royalty-related amount payable by the holder; security for the lease, as required under section 488 . Also, the application can not be made— more than 80 business days before the end of the term of the lease; or after the lease has ended. However, the Minister may allow the application to be made up to 2 years before the end of the term of the lease if the Minister is of the opinion that— a storage agreement is in force for the lease or the holder has negotiated, or is negotiating, a proposed storage agreement for the lease; and the agreement or proposed agreement will be in force after the proposed renewed lease takes effect. s 161 amd 2012 No. 25 s 155 ; 2014 No. 35 s 45 ; 2024 No. 12 s 103 (sec.161-ssec.1) A petroleum lease holder may apply to renew the lease only if none of the following is outstanding— annual rent for the lease; a civil penalty under section 156 for nonpayment of annual rent; rates and charges, including interest on overdue rates and charges, payable to the local government in whose area the lease is situated; interest payable under section 588 on annual rent or a civil penalty; a royalty-related amount payable by the holder; security for the lease, as required under section 488 . (sec.161-ssec.2) Also, the application can not be made— more than 80 business days before the end of the term of the lease; or after the lease has ended. (sec.161-ssec.3) However, the Minister may allow the application to be made up to 2 years before the end of the term of the lease if the Minister is of the opinion that— a storage agreement is in force for the lease or the holder has negotiated, or is negotiating, a proposed storage agreement for the lease; and the agreement or proposed agreement will be in force after the proposed renewed lease takes effect. - (a) annual rent for the lease; - (b) a civil penalty under section 156 for nonpayment of annual rent; - (c) rates and charges, including interest on overdue rates and charges, payable to the local government in whose area the lease is situated; - (d) interest payable under section 588 on annual rent or a civil penalty; - (e) a royalty-related amount payable by the holder; - (f) security for the lease, as required under section 488 . - (a) more than 80 business days before the end of the term of the lease; or - (b) after the lease has ended. - (a) a storage agreement is in force for the lease or the holder has negotiated, or is negotiating, a proposed storage agreement for the lease; and - (b) the agreement or proposed agreement will be in force after the proposed renewed lease takes effect.