49
CurrentEffect of ending of declaration of potential storage area
Chapter 2GHG exploration permits
Part 3Area provisions
49 Effect of ending of declaration of potential storage area
(1)
This section applies if—
(a)
all or part of the area of a GHG permit is a potential storage area; and
(b)
the declaration of the potential storage area ends more than 12 years after the GHG permit originally took effect.
(2)
If the declaration applied to a part of the GHG permit’s area, the part ceases to be included in the area.
(3)
If the declaration applies to all of the GHG permit’s area, the permit ends.
This Act’s bill:Explanatory memorandum
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