Document ID: chunk:federal_register_of_legislation:C2008C00563:section:3:p1
Version: federal_register_of_legislation:C2008C00563
Segment Type: section
Provision Reference: s 3 (pt 1/2)
Character Range: 1071–3870

3  Interpretation

 (1) In this Act, unless the contrary intention appears:

agreement includes:
 (a) a lease; and
 (b) an agreement as varied by an agreement or by agreements.

market petroleum means:
 (a) petroleum in a form in which petroleum is commonly sold; or
 (b) a product that is derived from petroleum and is of a kind that is commonly sold;
but does not include petroleum, or a product, that is derived from petroleum to which paragraph (a) applies or from a product to which paragraph (b) applies.

petroleum means:
 (a) any naturally occurring hydrocarbon, whether in a gaseous, liquid, or solid state;
 (b) any naturally occurring mixture of hydrocarbons, whether in a gaseous, liquid, or solid state; or
 (c) any naturally occurring mixture of one or more hydrocarbons, whether in a gaseous, liquid, or solid state, and one or more of the following, that is to say, hydrogen sulphide, nitrogen, helium and carbon dioxide;
and includes any petroleum as defined by paragraph (a), (b) or (c) that has been returned to a natural reservoir.

prescribed petroleum means:
 (a) stabilised crude petroleum oil;
 (b) liquid petroleum obtained from naturally occurring petroleum gas; or
 (c) liquefied petroleum gas obtained from unstabilised crude petroleum oil or from naturally occurring petroleum gas.

production source means:
 (a) a source of petroleum in a State (which, without limiting the generality of the foregoing, may be a production area within the meaning of section 5B of the Excise Tariff Act 1921); or
 (b) 2 or more sources referred to in paragraph (a) that constitute, or form part of, a project for the production of petroleum.

production unit means a production source together with the plant and facilities (wherever situated) used in, or in relation to, the production of market petroleum from that source (other than plant and facilities used in, or in relation to, the refining or transport of market petroleum).

relevant resource rent royalty agreement means a resource rent royalty agreement described in Schedule 1.

relevant revenue‑sharing agreement means a revenue‑sharing agreement described in Schedule 2.

 (2) For the purposes of this Act:
 (a) liquid petroleum obtained from naturally occurring petroleum gas shall be taken to have been produced from a production source if the petroleum gas was produced from that source; and
 (b) liquefied petroleum gas obtained from unstabilised crude petroleum oil or from naturally occurring petroleum gas shall be taken to have been produced from a production source if that oil or naturally occurring petroleum gas, as the case may be, was produced from that source.

 (3) For the purposes of this Act:
 (a) where an agreement that is a relevant resource rent royalty agreement is so varied that it ceases to be a