12Provisions with respect to Barracouta and Marlin Fields Production Licences

12 Provisions with respect to Barracouta and Marlin Fields Production Licences

(1) The following provisions of a licence referred to in section 146 of the Petroleum (Submerged Lands) Act 1967, that is to say: (a) subclause (2) of clause 2; and (b) clauses 5, 7, 8, 9, 11 and 12; shall be deemed to have effect as conditions of the licence as the licence has effect by reason of that section. (2) A reference in any provision referred to in the last preceding subsection to the Minister shall be read as a reference to the Designated Authority. (2A) The Joint Authority shall give directions to the Designated Authority with respect to the manner in which the Designated Authority is to exercise his powers under clauses 7, 8 and 12 of a licence to which this section applies and the Designated Authority shall not exercise any of those powers except in accordance with directions so given. (2B) A licence to which this section applies has effect as if it contained a provision in accordance with subsection (2A) and as if the reference in clause 12 (as affected by subsection (2) of this section) to the Designated Authority being satisfied included a reference to the Joint Authority being satisfied. (2C) Moneys paid to the Designated Authority after the commencement of this subsection by way of royalty in accordance with a licence to which this section applies shall be received by the Designated Authority on behalf of the Commonwealth. (3) Sections 2, 5, 6, 9, 10 and 11 of this Act do not have effect in relation to a licence to which this section applies.