sec.357Provisions of petroleum lease

### sec.357 Provisions of petroleum lease Section 123 applies to the granting of the lease as if the petroleum lease application were an ATP-related application. In deciding the provisions of the petroleum lease, the following matters must also be considered— the conditions of the relevant mining lease; the development plan for the relevant mining lease; if the area of the petroleum lease will include overlapping ATP land— 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 357 amd 2011 No. 2 ss 121 , 122 sch (sec.357-ssec.1) Section 123 applies to the granting of the lease as if the petroleum lease application were an ATP-related application. (sec.357-ssec.2) In deciding the provisions of the petroleum lease, the following matters must also be considered— the conditions of the relevant mining lease; the development plan for the relevant mining lease; if the area of the petroleum lease will include overlapping ATP land— 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.357-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.357-ssec.4) Subsection (3) does not limit any power under chapter 2 to impose conditions on the petroleum lease. - (a) the conditions of the relevant mining lease; - (b) the development plan for the relevant mining lease; - (c) if the area of the petroleum lease will include overlapping ATP land— (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) .