695YC

Requirement to give notice if certain events occur

Current

(1)

This section applies to the following persons:

(a)

an applicant for the grant, renewal or approval of a transfer of any of the following titles (each of which is a relevant title):

(i)

a petroleum exploration permit;

(ii)

a petroleum retention lease;

(iii)

a petroleum production licence;

(iv)

an infrastructure licence;

(v)

a pipeline licence;

(vi)

a greenhouse gas assessment permit;

(vii)

a greenhouse gas holding lease;

(viii)

a greenhouse gas injection licence;

(b)

a registered holder of a relevant title;

(c)

if the person referred to in paragraph (a) or (b) is a body corporate—a person who is an officer (within the meaning of the Corporations Act 2001) of the body corporate.

(2)

The person must give written notice to the Titles Administrator and NOPSEMA if any of the following events occur, as soon as practicable after the event occurs:

(a)

the person is found guilty of an offence against a law of the Commonwealth or of a State or Territory:

(i)

involving fraud or dishonesty; or

(ii)

prescribed by the regulations;

(b)

the person is ordered to pay a pecuniary penalty for the contravention of a civil penalty provision of a law of the Commonwealth or of a State or Territory:

(i)

involving fraud or dishonesty; or

(ii)

prescribed by the regulations;

(c)

if the person is an individual—the person becomes insolvent under administration;

(d)

if the person is an individual—the person is disqualified from managing corporations under Part 2D.6 of the Corporations Act 2001;

(e)

if the person is a body corporate—the person becomes a Chapter 5 body corporate (within the meaning of the Corporations Act 2001);

(f)

if the person is an officer (within the meaning of the Corporations Act 2001) of a body corporate—the body corporate becomes a Chapter 5 body corporate (within the meaning of the Corporations Act 2001);

(g)

if the person is an individual—the person is found, in any criminal or civil proceedings against the person, to have committed an offence against, or contravened, a provision of Division 1 of Part 2D.1 of the Corporations Act 2001;

(h)

an event of a kind prescribed by the regulations.

(3)

The notice must be given in the approved form and in an approved manner.

(4)

A person is liable to a civil penalty if:

(a)

the person is subject to a requirement under subsection (2); and

(b)

the person omits to do an act; and

(c)

the omission breaches the requirement.

Civil penalty: 240 penalty units.

(5)

The Titles Administrator must publish on the Titles Administrator’s website:

(a)

the form approved for the purposes of subsection (3); and

(b)

a copy of the instrument approving a manner for the purposes of that subsection.

(6)

Nothing in this section affects the operation of Part VIIC of the Crimes Act 1914.

Note:

Part VIIC of the Crimes Act 1914 includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them.

(7)

In this section:

approved means approved, in writing, by the Titles Administrator and the Chief Executive Officer of NOPSEMA.

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