Document ID: chunk:federal_register_of_legislation:C2024C00828:section:322
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 322
Character Range: 870329–872571

322  Duration of greenhouse gas holding lease
 (1) A greenhouse gas holding lease (other than a special greenhouse gas holding lease or a special cross‑boundary greenhouse gas holding lease) remains in force for the period of 5 years beginning on:
 (a) the day on which the lease is granted; or
 (b) if a later day is specified in the lease as the day on which the lease is to come into force—that later day.
 (2) A special greenhouse gas holding lease or a special cross‑boundary greenhouse gas holding lease remains in force indefinitely.
 (3) Subsections (1) and (2) have effect subject to this Chapter.
Note 1: For special rules about the extension of the duration of a greenhouse gas holding lease if the lessee applies for a special greenhouse gas holding lease or greenhouse gas injection licence, see sections 323 and 323A.
Note 2: For a special rule about the cancellation of a special greenhouse gas holding lease, see section 353.
Note 2AA: For a special rule about the cancellation of a special cross‑boundary greenhouse gas holding lease, see section 353A.
Note 2A: For a special rule about the cancellation of a greenhouse gas holding lease granted to the holder of a petroleum retention lease, see section 354.
Note 3: For special rules about the extension of the duration of a greenhouse gas holding lease pending a decision on a renewal application, see subsections 347(6) and 350A(7).
Note 4: For special rules about the duration of a greenhouse gas holding lease once a decision has been made refusing to renew the lease, see subsections 349(4) and (5) and 350C(4) and (5).
Note 5: For special rules about the extension of the duration of a greenhouse gas holding lease following a suspension decision, see sections 437, 439 and 439B.
Note 5A: For special rules about the extension of the duration of a greenhouse gas holding lease pending a suspension decision, see sections 437A and 439C.
Note 6: For special rules about when a greenhouse gas holding lease ceases to be in force following the grant of a greenhouse gas injection licence, see sections 366 and 368F.
Note 7: For the surrender of a greenhouse gas holding lease, see Part 3.10.
Note 8: For the cancellation of a greenhouse gas holding lease, see Part 3.11.