Petroleum and Gas (Royalty) Regulation 2021
sec.93Undecided application to end election period for joint venture tenure
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sec.93 Undecided application to end election period for joint venture tenure
This section applies if— a non-tenure holder or tenure holder made an application under section 148ZD(2) 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 49(2). If the revenue commissioner decides to end the election period for the joint venture tenure, the day on which the election period ends under section 49(7) may be a day before the commencement. (sec.93-ssec.1) This section applies if— a non-tenure holder or tenure holder made an application under section 148ZD(2) of the expired regulation; and immediately before the commencement, the application had not been decided. (sec.93-ssec.2) The application is taken to have been made under section 49(2). (sec.93-ssec.3) If the revenue commissioner decides to end the election period for the joint venture tenure, the day on which the election period ends under section 49(7) may be a day before the commencement.
- (a) a non-tenure holder or tenure holder made an application under section 148ZD(2) of the expired regulation; and
- (b) immediately before the commencement, the application had not been decided.