Document ID: chunk:federal_register_of_legislation:C2024C00828:section:335b
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 335B
Character Range: 916863–919022

335B  Grant of cross‑boundary greenhouse gas holding lease—offer document
  If:
 (a) an application for a greenhouse gas holding lease has been made under section 335A; and
 (b) the Cross‑boundary Authority is satisfied that the applicant is not, at the time of the application, in a position to:
 (i) inject a greenhouse gas substance into the identified greenhouse gas storage formation, or at least one of the identified greenhouse gas storage formations, concerned; and
 (ii) store the greenhouse gas substance in the identified greenhouse gas storage formation, or at least one of the identified greenhouse gas storage formations, concerned;
  but is likely to be in such a position within 15 years; and
 (ba) the Cross‑boundary Authority is satisfied that the technical advice and financial resources available to the applicant are sufficient to:
 (i) carry out the operations and works that will be authorised by the lease; and
 (ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the lease; and
 (bb) the Cross‑boundary Authority is satisfied of the matters (if any) prescribed by the regulations;
the Cross‑boundary Authority must give the applicant a written notice (called an offer document) telling the applicant that the Cross‑boundary Authority is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks specified in the application, so long as:
 (c) in a case where part of the lease area would be in the coastal waters of a State—the State has consented to the giving of the offer document; or
 (d) in a case where part of the lease area would be in the coastal waters of the Northern Territory—the Northern Territory has consented to the giving of the offer document.
Note 1: Section 430 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).
Note 2: If the applicant breaches a requirement under section 429A to provide further information, the Cross‑boundary Authority may refuse to give the applicant an offer document—see subsection 429A(4).