Petroleum Act 1936

Upon the Governor proclaiming a state of national or State emergency, the Governor shall have the right of pre-emption of all petroleum produced by a lessee from any land held under a petroleum lease issued under this Act, or by the owner of land alienated by the Crown and which is subject to an express reservation of petroleum or an implied reservation under the terms of this Act, and of all the products of such petroleum; and in the event of the Governor exercising such right, the lessee or owner concerned shall take all reasonable steps to facilitate the delivery of the petroleum or products thereof, as the Governor may direct.

No lessee or owner aforesaid shall sell or otherwise dispose of petroleum produced by him, or the products thereof, without the written consent of the Minister.

Any sale or other disposition of petroleum or the products thereof made in contravention of subsection (2) hereof shall, as against the Governor when exercising the said right, be null and void.

The price to be paid for petroleum or products thereof purchased by the Governor pursuant to the said right of pre-emption shall, failing mutual agreement between the Minister and the vendor, be determined by arbitration under the provisions of the Commercial Arbitration Act 2012.