Document ID: chunk:federal_register_of_legislation:C2024C00828:section:123
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 123
Character Range: 323747–324656

123  Standard halving rules
 (1) This section sets out the standard halving rules.

Scope
 (2) This section applies to:
 (a) an application for renewal of a cash‑bid petroleum exploration permit that is capable of being renewed; and
 (b) an application for renewal that is covered by item 1, 2 or 4 of the table in subsection 122(2); and
 (c) an application for renewal that is covered by paragraph 122A(1)(c).
 (2A) Subsection (2) has effect subject to subsection 122(3).

Basic rule
 (3) The maximum number of blocks in relation to which an application for a renewal of a permit may be made is worked out using the table:

Maximum number of blocks
Item                      In this case...                                                                                                                                                                                       the maximum number of blocks is...