Document ID: chunk:federal_register_of_legislation:C2024C00828:section:362:p6
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 362 (pt 6/6)
Character Range: 1022677–1023702

in considering whether the grant of the greenhouse gas injection licence is in the public interest, the responsible Commonwealth Minister must have regard to:
 (a) whether the registered holder of the existing post‑commencement petroleum exploration permit or existing post‑commencement petroleum retention lease, as the case may be, has agreed, in writing, to the grant of the greenhouse gas injection licence; and
 (b) if so—the terms of that agreement.
 (4) Subsection (3) does not limit the matters to which the responsible Commonwealth Minister may have regard.

Commercial viability test
 (5) For the purposes of subparagraphs (1)(f)(iii) and (2)(f)(iii), the recovery of petroleum passes the commercial viability test if, and only if, the responsible Commonwealth Minister is satisfied that:
 (a) the recovery is commercially viable; or
 (b) the recovery is not commercially viable, but is likely to become commercially viable within 15 years.

Deferral of decision
 (6) This section has effect subject to section 365.