Petroleum Act 1936

A permit to explore, license to prospect or petroleum lease issued or granted under this Act or any share or interest therein shall not be transferred or assigned without the approval of the Minister being first obtained.

A transfer of a permit to explore, license to prospect or petroleum lease is of no effect until it is registered in the manner prescribed.

A transfer or assignment of any right, title, estate or interest in any permit to explore, license or prospect or petroleum lease to any person or corporation, not being a person domiciled within, or a corporation formed and registered within the Commonwealth, as the case may be, shall not be registered unless the Minister is satisfied that there are exceptional reasons which justify the registration.

A permit to explore, license to prospect and petroleum lease issued or granted under this Act and the regulations may subject to this Act and the regulations be mortgaged or otherwise encumbered by the holder or lessee of the permit, license or lease and shall, in the case of a judgment or order of any court being obtained against the holder or lessee, or in the event of the death, bankruptcy or liquidation of the holder or lessee, be subject to law in the same manner and to the same extent as other property of the holder or lessee is subject.