Document ID: chunk:federal_register_of_legislation:C2024C00828:section:327
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 327
Character Range: 890220–891181

327  Grant of greenhouse gas holding lease
  If:
 (a) an applicant has been given an offer document under section 325; and
 (b) the applicant has made a request under section 431 in relation to the offer document within the period applicable under that section; and
 (c) if the offer document specified the form and amount of a security to be lodged by the applicant—the applicant has lodged the security within the period applicable under section 433;
the responsible Commonwealth Minister must grant the applicant a greenhouse gas holding lease over the block or blocks specified in the offer document.
Note 1: If the applicant does not make a request under section 431 within the period applicable under that section, the application lapses at the end of that period—see subsection 431(4).
Note 2: If the applicant has not lodged the security within the period applicable under section 433, the application lapses at the end of that period—see section 433.