Document ID: chunk:federal_register_of_legislation:C2024C00828:section:566d
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 566D
Character Range: 1394581–1396436

566D  Titles Administrator must decide whether to approve change in control

Scope
 (1) This section applies if an application is made for approval of a change in control of a registered holder of a title under section 566C.

Decision
 (2) The Titles Administrator must decide:
 (a) to approve the change in control; or
 (b) to refuse to approve the change in control.
Note: The applicant must be notified of the decision (see section 566E).
 (3) Before deciding whether to approve or refuse to approve a change in control, the Titles Administrator may consult with one or more of the following:
 (a) the Cross‑boundary Authority;
 (b) the Joint Authority;
 (c) NOPSEMA;
 (d) the responsible Commonwealth Minister.
 (4) In deciding whether to approve or refuse to approve a change in control, the Titles Administrator:
 (a) must have regard to the matters specified in subsection (5); and
 (b) may have regard to the following matters:
 (i) matters raised in consultations (if any) under subsection (3);
 (ii) any other matters the Titles Administrator considers relevant.
 (5) The matters are as follows:
 (a) whether the technical advice and financial resources available to the registered holder after the change in control takes effect are sufficient to:
 (i) carry out the operations and works that are authorised by the titles held by the registered holder; and
 (ii) discharge the obligations that are imposed under this Act, or a legislative instrument under this Act, in relation to those titles;
 (b) the matters specified in section 695YB as they apply to a person who will begin to control the registered holder;
 (c) if a person who will begin to control the registered holder is a body corporate—the matters specified in section 695YB as they apply to an officer of the body corporate;
 (d) any other matters prescribed by the regulations.