sec.171Applying to divide

### sec.171 Applying to divide The holder of a petroleum lease (the original lease ) may apply to divide it into 2 or more petroleum leases (the new leases ). However, the holder may apply for a new lease to be granted to another person only if the other person— agrees to the proposed grant; and is an eligible person. Despite subsections (1) and (2) , the holder can not make the application if any of the following is outstanding— annual rent for the original 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 original lease, as required under section 488 . s 171 amd 2012 No. 25 s 156 ; 2014 No. 35 s 46 ; 2024 No. 12 s 106 (sec.171-ssec.1) The holder of a petroleum lease (the original lease ) may apply to divide it into 2 or more petroleum leases (the new leases ). (sec.171-ssec.2) However, the holder may apply for a new lease to be granted to another person only if the other person— agrees to the proposed grant; and is an eligible person. (sec.171-ssec.3) Despite subsections (1) and (2) , the holder can not make the application if any of the following is outstanding— annual rent for the original 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 original lease, as required under section 488 . - (a) agrees to the proposed grant; and - (b) is an eligible person. - (a) annual rent for the original 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 original lease, as required under section 488 .