Meaning of reporting period

In force

(1)

A reporting period, in relation to a petroleum interest, is each period of 12 months ending on the anniversary of the day on which the petroleum interest was granted.

(2)

If the petroleum interest comes to an end during one of the periods under subsection (1) then the last reporting period is the period from the last anniversary of the day on which the petroleum interest was granted to the day on which the petroleum interest ceases to exist.

This Act’s bill:Second reading speech

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5A Meaning of reporting period