sec.341Provisions of petroleum lease

### sec.341 Provisions of petroleum lease If the petroleum lease application is granted, section 123 applies as if the application were an ATP-related application. In deciding the provisions of the petroleum lease, the following matters must also be considered— the provisions recommended for the relevant mining lease; the development plan for the relevant mining lease; if the area of the petroleum lease will include land ( overlapping ATP land ) in the area of, or excluded land for, an authority to prospect or a 1923 Act ATP held by someone other than the petroleum lease holder— the legitimate business interests, rights and future development proposals of the authority to prospect holder; and the likelihood of coordinated production of petroleum in relation to the overlapping ATP land being subject to an agreement under section 364 (2) . A relinquishment condition may be imposed. See however section 368 (Cessation of relinquishment condition for area not overlapping with coal or oil shale exploration tenement). Subsection (3) does not limit any power under chapter 2 to impose conditions on the petroleum lease. s 341 amd 2004 No. 26 s 131 ; 2011 No. 2 ss 121 , 122 sch (sec.341-ssec.1) If the petroleum lease application is granted, section 123 applies as if the application were an ATP-related application. (sec.341-ssec.2) In deciding the provisions of the petroleum lease, the following matters must also be considered— the provisions recommended for the relevant mining lease; the development plan for the relevant mining lease; if the area of the petroleum lease will include land ( overlapping ATP land ) in the area of, or excluded land for, an authority to prospect or a 1923 Act ATP held by someone other than the petroleum lease holder— the legitimate business interests, rights and future development proposals of the authority to prospect holder; and the likelihood of coordinated production of petroleum in relation to the overlapping ATP land being subject to an agreement under section 364 (2) . (sec.341-ssec.3) A relinquishment condition may be imposed. See however section 368 (Cessation of relinquishment condition for area not overlapping with coal or oil shale exploration tenement). (sec.341-ssec.4) Subsection (3) does not limit any power under chapter 2 to impose conditions on the petroleum lease. - (a) the provisions recommended for the relevant mining lease; - (b) the development plan for the relevant mining lease; - (c) if the area of the petroleum lease will include land ( overlapping ATP land ) in the area of, or excluded land for, an authority to prospect or a 1923 Act ATP held by someone other than the petroleum lease holder— (i) the legitimate business interests, rights and future development proposals of the authority to prospect holder; and (ii) the likelihood of coordinated production of petroleum in relation to the overlapping ATP land being subject to an agreement under section 364 (2) . - (i) the legitimate business interests, rights and future development proposals of the authority to prospect holder; and - (ii) the likelihood of coordinated production of petroleum in relation to the overlapping ATP land being subject to an agreement under section 364 (2) . - (i) the legitimate business interests, rights and future development proposals of the authority to prospect holder; and - (ii) the likelihood of coordinated production of petroleum in relation to the overlapping ATP land being subject to an agreement under section 364 (2) .