Document ID: chunk:federal_register_of_legislation:C2024C00828:section:344
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 344
Character Range: 947587–948940

344  Grant of greenhouse gas holding lease—offer document

Scope
 (1) This section applies if an application for a greenhouse gas holding lease has been made under section 343.

Offer document
 (2) The responsible Commonwealth Minister must give the applicant a written notice (called an offer document) telling the applicant that the responsible Commonwealth Minister is prepared to grant the applicant a greenhouse gas holding lease over the block or blocks covered by the application if:
 (a) the responsible Commonwealth Minister 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
 (b) the responsible Commonwealth Minister is satisfied of the matters (if any) prescribed by the regulations.
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 429 to provide further information, the responsible Commonwealth Minister may refuse to give the applicant an offer document—see subsection 429(3).