Provisions of GHG lease
120 Provisions of GHG lease
A GHG lease must state its area.
A GHG lease may also state—
conditions or other provisions of the GHG lease other than conditions or provisions that are—
inconsistent with the mandatory conditions for GHG leases; or
the same as or substantially the same as or inconsistent with any relevant environmental condition; and
a day for the GHG lease to take effect; and
a day by which GHG stream storage under the GHG lease is to start (the storage commencement day).
However, the provisions of the GHG lease may exclude or restrict the carrying out of an authorised activity for the lease.
The day of effect must not be before the day the GHG lease is granted.
If no day of effect is decided, the GHG lease takes effect on the day it is granted.
The storage commencement day may be more than 5 years after the day of effect only if the Minister is satisfied the holder has entered into a relevant arrangement.
In deciding the provisions of the GHG lease the Minister must consider the development plan criteria and capability criteria.
This section applies subject to section 121.
This Act’s bill:Explanatory memorandum
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