Petroleum and Gas (Royalty) Regulation 2021
sec.74Undecided application by petroleum producer of project gas to end election for benchmark price to apply
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sec.74 Undecided application by petroleum producer of project gas to end election for benchmark price to apply
This section applies if— a petroleum producer made an application under section 148I(5) of the expired regulation to end an election made under section 148I(3) of the expired regulation; and immediately before the commencement, the application had not been decided. The application is taken to have been made under section 28(5). If the revenue commissioner decides to end the election under section 28(6), the day stated in the notice under section 28(8) may be a day before the commencement. (sec.74-ssec.1) This section applies if— a petroleum producer made an application under section 148I(5) of the expired regulation to end an election made under section 148I(3) of the expired regulation; and immediately before the commencement, the application had not been decided. (sec.74-ssec.2) The application is taken to have been made under section 28(5). (sec.74-ssec.3) If the revenue commissioner decides to end the election under section 28(6), the day stated in the notice under section 28(8) may be a day before the commencement.
- (a) a petroleum producer made an application under section 148I(5) of the expired regulation to end an election made under section 148I(3) of the expired regulation; and
- (b) immediately before the commencement, the application had not been decided.