43Notification as to grant of licence

#### 43 Notification as to grant of licence (1) This section applies if an application for the grant of a licence has been made under section 39A, 40, 40A or 40B. (1A) If: (a) the applicant has given any further information as and when required by the Designated Authority under subsection 41(2); and (b) the Joint Authority is satisfied that the area comprised in the block, or any one or more of the blocks, specified in the application contains petroleum; the Joint Authority must, subject to subsection (1B), by written notice served on the applicant, tell the applicant that it is prepared to grant to the applicant a licence in respect of the block or blocks as to which the Joint Authority is satisfied as mentioned in paragraph (b). (1B) The Greater Sunrise Off‑shore Petroleum Joint Authority must not tell an applicant for the grant of a Greater Sunrise unit reservoir licence that the Joint Authority is prepared to grant to the applicant such a licence unless: (a) the Joint Authority has given to the Timor Sea Treaty Designated Authority a written notice that: (i) states that the Joint Authority is considering granting the licence to the applicant and naming the person who the applicant has nominated to be the unit operator; and (ii) is accompanied by a copy of each Joint Venturers’ Agreement that accompanied the application; and (iii) is accompanied by a copy of the proposed Development Plan that accompanied the application; and (b) the Joint Authority has approved: (i) a unit operator in respect of the development of the Greater Sunrise unit reservoirs in the blocks to which the licence relates; and (ii) each Joint Venturers’ Agreement in respect of that development; and (iii) the Development Plan in respect of that development; and is satisfied that the Timor Sea Treaty Designated Authority has approved the same unit operator, Joint Venturers’ Agreements and Development Plan in respect of that development; and (c) the Joint Authority has determined the conditions subject to which the licence is to be granted. (2) A notice under subsection (1A) shall: (a) contain a summary of the conditions subject to which the licence is to be granted; (b) if the instrument relates to an application for a secondary licence—specify the rate of royalty determined by the Joint Authority in pursuance of subsection 42(1); and (c) contain a statement to the effect that the application will lapse if the applicant does not make a request under subsection 44(1) in respect of the grant of the licence. (3) If the Joint Authority decides not to grant to the applicant a licence in respect of the block, or any of the blocks, specified in the application because: (a) the applicant has failed to comply with a requirement made by the Designated Authority under subsection 41(2); or (b) the Joint Authority is not satisfied that the area comprised in the block, or any of the blocks, contains petroleum; or (c) in the case of an application for the grant of a Greater Sunrise unit reservoir licence—the Joint Authority is not satisfied that the Timor Sea Treaty Designated Authority has given the approvals mentioned in paragraph (1B)(b); the Joint Authority must, by written notice served on the applicant, tell the applicant of its decision and the reasons for the decision.