Document ID: chunk:federal_register_of_legislation:C2024C00828:section:368b:p10
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 368B (pt 10/10)
Character Range: 1059148–1060083

regard.

Commercial viability test
 (5) For the purposes of subparagraphs (1)(h)(iii) and (2)(h)(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.
 (6) Before attaining a state of satisfaction under subsection (5) in relation to the recovery of petroleum under a State/Territory petroleum title, the responsible Commonwealth Minister must consult:
 (a) if the State/Territory petroleum title was granted under a law of a State—the responsible State Minister for the State; or
 (b) if the State/Territory petroleum title was granted under a law of the Northern Territory—the responsible Northern Territory Minister.

Deferral of decision
 (7) This section has effect subject to section 368E.