sec.89Applying for potential commercial area

### sec.89 Applying for potential commercial area The holder of an authority to prospect may apply for a declaration by the Minister that all or a stated part of the area of the authority is a potential commercial area for the authority. The application must be— in the approved form; and accompanied by the fee prescribed under a regulation. The application may be made— for more than 1 part of the area of the authority to prospect; and even if another part of the area of the authority is already a potential commercial area. However, each part to which the application relates must be part of the same authority to prospect. The application must include— a report for, or that includes, the proposed potential commercial area that— meets the requirements under section 231 for a commercial viability report; and is still relevant to the circumstances of the proposed potential commercial area; and an evaluation program for— potential petroleum production or storage in the proposed potential commercial area; and market opportunities for potential production or storage; and information about the compliance or noncompliance with the conditions of the authority. However, subsection (5) (a) does not apply if— a commercial viability report or an independent viability assessment relates to, or includes the proposed potential commercial area; and the report or assessment is still relevant to the circumstances of the proposed potential commercial area. s 89 amd 2005 No. 3 s 49 ; 2011 No. 2 s 121 ; 2012 No. 20 s 281 sch 2 ; 2019 No. 17 s 300 (sec.89-ssec.1) The holder of an authority to prospect may apply for a declaration by the Minister that all or a stated part of the area of the authority is a potential commercial area for the authority. (sec.89-ssec.2) The application must be— in the approved form; and accompanied by the fee prescribed under a regulation. (sec.89-ssec.3) The application may be made— for more than 1 part of the area of the authority to prospect; and even if another part of the area of the authority is already a potential commercial area. (sec.89-ssec.4) However, each part to which the application relates must be part of the same authority to prospect. (sec.89-ssec.5) The application must include— a report for, or that includes, the proposed potential commercial area that— meets the requirements under section 231 for a commercial viability report; and is still relevant to the circumstances of the proposed potential commercial area; and an evaluation program for— potential petroleum production or storage in the proposed potential commercial area; and market opportunities for potential production or storage; and information about the compliance or noncompliance with the conditions of the authority. (sec.89-ssec.6) However, subsection (5) (a) does not apply if— a commercial viability report or an independent viability assessment relates to, or includes the proposed potential commercial area; and the report or assessment is still relevant to the circumstances of the proposed potential commercial area. - (a) in the approved form; and - (b) accompanied by the fee prescribed under a regulation. - (a) for more than 1 part of the area of the authority to prospect; and - (b) even if another part of the area of the authority is already a potential commercial area. - (a) a report for, or that includes, the proposed potential commercial area that— (i) meets the requirements under section 231 for a commercial viability report; and (ii) is still relevant to the circumstances of the proposed potential commercial area; and - (i) meets the requirements under section 231 for a commercial viability report; and - (ii) is still relevant to the circumstances of the proposed potential commercial area; and - (b) an evaluation program for— (i) potential petroleum production or storage in the proposed potential commercial area; and (ii) market opportunities for potential production or storage; and - (i) potential petroleum production or storage in the proposed potential commercial area; and - (ii) market opportunities for potential production or storage; and - (c) information about the compliance or noncompliance with the conditions of the authority. - (i) meets the requirements under section 231 for a commercial viability report; and - (ii) is still relevant to the circumstances of the proposed potential commercial area; and - (i) potential petroleum production or storage in the proposed potential commercial area; and - (ii) market opportunities for potential production or storage; and - (a) a commercial viability report or an independent viability assessment relates to, or includes the proposed potential commercial area; and - (b) the report or assessment is still relevant to the circumstances of the proposed potential commercial area.