Petroleum (Submerged Lands)
Amendment (Permits and Leases)
Bill 2005

This explanatory note relates to this Bill as introduced into Parliament.

Overview of Bill

The object of this Bill is to amend the Petroleum (Submerged Lands) Act 1982 (the
NSW Act):

(a) to limit to two the maximum number of renewals of exploration permits for
petroleum, and

(b) to reduce from two to one the number of requests that the Minister may make
during the term of a retention lease for petroleum for the lessee to conduct a
re-evaluation of the commercial viability of petroleum production in the lease
area.

These proposed amendments are to be made in consequence of the enactment of
Commonwealth legislation and in pursuance of paragraph (d) of the Preamble to the
NSW Act.

This Bill also transfers to the Act the effect of a savings provision concerning the
method by which the adjacent area of New South Wales is determined. This Bill
repeals the Regulation that currently contains that provision.

Outline of provisions

Clause 1 sets out the name (also called the short title) of the proposed Act.

Clause 2 provides for the commencement of the proposed Act on the date of assent.

Clause 3 is a formal provision that gives effect to the amendments to the Petroleum
(Submerged Lands) Act 1982 set out in Schedules 1 and 2.

Clause 4 repeals the Petroleum (Submerged Lands) Savings Regulation 2000 as a
consequence of the amendments made by Schedule 2 [1] and [2].

Schedule 1 Amendments relating to permits and
leases
Schedule 1 [1] and [2] limit to two the maximum number of renewals of an
exploration permit for petroleum. The amendments do not apply to existing permits.

Schedule 1 [3] reduces from two to one the number of requests that the Minister may
make during the term of a retention lease for petroleum for the lessee to conduct a
re-evaluation of the commercial viability of petroleum production in the lease area.

Schedule 1 [7] ensures that the amendment made by Schedule 1 [3] applies in respect
of existing leases.

Schedule 1 [4]–[6] provides for the making of savings and transitional regulations
consequent on the enactment of the proposed Act.

Schedule 2 Amendments by way of statute law
revision
Schedule 2 [1] and [2] transfer to the Petroleum (Submerged Lands) Act 1982 the
effect of a savings provision in the Petroleum (Submerged Lands) Savings
Regulation 2000. That provision was made to ensure that the area identified in the
NSW Act as the adjacent area of New South Wales did not change as a consequence
of the repeal and re-enactment of section 7 of the NSW Act by the Survey
(Geocentric Datum of Australia) Act 1999, which changed the method used to
determine positions from the Australian Geodetic Datum to the Geocentric Datum of
Australia.

Schedule 2 [3] updates an outdated reference.

Note: If this Bill is not modified, these Explanatory Notes would reflect the Bill as passed in the House. If the Bill has been amended by Committee, these Explanatory Notes may not necessarily reflect the Bill as passed.

 

---

[Index] [Search] [Download] [Bill] [Help]