Document ID: chunk:federal_register_of_legislation:C2024C00828:section:775b:p1
Version: federal_register_of_legislation:C2024C00828
Segment Type: section
Provision Reference: s 775B (pt 1/2)
Character Range: 1944210–1946965

775B  Eligible voluntary action by multiple holders of a petroleum title

Scope
 (1) This section applies if there are 2 or more registered holders of a petroleum title.

Nomination
 (2) Those registered holders may, by joint written notice given to the Titles Administrator, nominate one of them as being the person who is authorised to take eligible voluntary actions on behalf of the registered holders.
Note: For eligible voluntary action, see section 775A.
 (3) The joint written notice must be executed in an approved manner by or on behalf of each of the registered holders.
 (3A) The Titles Administrator must publish on the Titles Administrator's website a copy of the instrument of approval referred to in subsection (3).

Eligible voluntary action to be taken by nominee
 (4) If:
 (a) the registered holders of a petroleum title have nominated a person under subsection (2); and
 (b) the nomination is in force; and
 (c) the nominated person takes an eligible voluntary action; and
 (d) the eligible voluntary action is expressed to be taken on behalf of the registered holders;
this Act has effect as if the eligible voluntary action were taken by the registered holders jointly.
 (5) The registered holders are not entitled to take an eligible voluntary action except:
 (a) in accordance with subsection (4); or
 (b) by taking the action jointly.

Revocation of nomination
 (6) If:
 (a) a person has been nominated under subsection (2) in relation to a petroleum title; and
 (b) one of the registered holders of the petroleum title, by written notice given to the Titles Administrator, revokes the nomination;
the nomination ceases to be in force.
 (6A) If a registered holder of a petroleum title revokes a nomination under subsection (6), that registered holder must give written notice of the revocation to each of the other registered holders as soon as practicable after the revocation.

Cessation of nomination—nominee ceases to be a registered holder
 (7) If:
 (a) a person has been nominated under subsection (2) in relation to a petroleum title; and
 (b) the nominated person ceases to be one of the registered holders of the petroleum title;
the nomination ceases to be in force.

Effect of cessation in force of nomination
 (7A) If the nomination of a registered holder of a petroleum title ceases to be in force under subsection (6) or (7), the cessation in force of the nomination does not affect the validity of an eligible voluntary action taken by the registered holder (or former registered holder) before the nomination ceases to be in force.

Definition
 (8) In this section:
petroleum title means:
 (a) a petroleum exploration permit; or
 (b) a petroleum retention lease; or
 (c) a petroleum production licence; or
 (d) an