sec.174Provisions of new leases

### sec.174 Provisions of new leases Subject to this section, section 123 applies for the provisions of a new lease as if it were a petroleum lease granted under division 2 . However, the term of each new lease must not end later than the end of the term of the original lease. For any relinquishment condition for the new leases— the new leases are taken to have originally taken effect when the original lease originally took effect; and land within any sub-block that the original lease states is included in the area of the original lease is divided rateably between the new leases; and for working out previous relinquishments that are counted for the relinquishment condition for each new lease, the relinquishments previously counted for the relinquishment condition for the original lease are divided rateably between the new leases. (sec.174-ssec.1) Subject to this section, section 123 applies for the provisions of a new lease as if it were a petroleum lease granted under division 2 . (sec.174-ssec.2) However, the term of each new lease must not end later than the end of the term of the original lease. (sec.174-ssec.3) For any relinquishment condition for the new leases— the new leases are taken to have originally taken effect when the original lease originally took effect; and land within any sub-block that the original lease states is included in the area of the original lease is divided rateably between the new leases; and for working out previous relinquishments that are counted for the relinquishment condition for each new lease, the relinquishments previously counted for the relinquishment condition for the original lease are divided rateably between the new leases. - (a) the new leases are taken to have originally taken effect when the original lease originally took effect; and - (b) land within any sub-block that the original lease states is included in the area of the original lease is divided rateably between the new leases; and - (c) for working out previous relinquishments that are counted for the relinquishment condition for each new lease, the relinquishments previously counted for the relinquishment condition for the original lease are divided rateably between the new leases.