Document ID: chunk:federal_register_of_legislation:C2019A00057:clause:7_61
Version: federal_register_of_legislation:C2019A00057
Segment Type: clause
Provision Reference: sch 7 cl 61
Character Range: 104898–106161

61  Revocation of petroleum retention leases in Greater Sunrise special regime area
(1) A petroleum retention lease that was in force under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 over a block in the Eastern Greater Sunrise offshore area immediately before the commencement of this item is wholly revoked by this item on its commencement.
Note 1: This item commences only once the Greater Sunrise Production Sharing Contract under the Timor Sea Maritime Boundaries Treaty has come into force. Under Article 4 of Annex B to the treaty, the conditions of the contract must be equivalent to the legal rights held under the retention leases.
Note 2: Division 4 of Part 2.3 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 does not apply in relation to the revocation, because it occurs by force of this item.
Note 3: Under section 471 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006, the Titles Administrator must enter in the relevant Register a memorial of the revocation.
(2) To avoid doubt, the following provisions of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 do not apply as a result of the revocation:
 (a) section 14;
 (b) section 115;
 (c) subsection 132(3);
 (d) section 178;
 (e) section 708.