171
In forceWhat is the current term of an authority to prospect
Part 10Transitional provisions for 1923 Act petroleum tenures from 31 December 2004
Division 2Relinquishment condition until first renewal after 31 December 2004, and related provisions
171 What is the current term of an authority to prospect
(1)
The current term of an authority to prospect is the period that starts on the later of the following days and ends when it is first renewed after 31 December 2004—
(a)
the day the authority was granted;
(b)
the day the last renewal of the authority before 31 December 2004 became effective.
(2)
However, an authority granted between 1 January 1994 and 23 December 1996 ends on a day decided by the Minister.
(3)
For subsection (1)(b), a renewal of the authority is taken to have become effective on the day immediately after the end of its last term before the renewal.
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