Petroleum (Submerged Lands) Regulations (Amendment) (Cth)

Statutory Rules 1987 No. 2931

Petroleum (Submerged Lands) Regulations2

(Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and pursuant to section 4 of the Acts Interpretation Act 1901,hereby make the following Regulation under the Petroleum (Submerged Lands) Act 1967.

Dated 11 December 1987.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

John Kerin

Minister of State for Primary Industries and Energy

 

After regulation 3 of the Petroleum (Submerged Lands) Regulations, the following regulation is inserted:

Instrument under paragraph 81 (4) (b) of the Act

“4. (1) For the purposes of paragraph 81 (4) (b) of the Act, the following particulars are prescribed:

(a) description and date of execution of the instrument evidencing the dealing referred to in paragraph 81 (4) (a) of the Act;

(b) details of the title (including the type and number of the title) to which the dealing relates;

(c) full name and business address of each party to the dealing;

(d) details of the effect or effects, upon registration, of the dealing specified in terms of the relevant paragraph or paragraphs of subsection 81 (1) of the Act;

(e) details of the interest or interests in the title of all parties to the dealing:

(i) before the registration of the dealing; and

(ii) in the event of approval of the dealing, after the registration of the dealing;

 

(S.R. 286/87)—Cat. No. 17/30.11.1987

 

(f) in the case of a dealing to which paragraph 4 (5) (a) of the Registration Fees Act applies—the value of the consideration;

(g) in the case of a dealing relating to an interest in a licence or pipeline licence to which paragraph 4 (5) (b) of the Registration Fees Act applies—the value of the interest;

(h) whether or not the parties to the dealing have made or propose to make an application for the purposes of subsection 4 (6a) of the Registration Fees Act;

(j) in respect of any related dealing in relation to which an entry has been made in the Register or an application in writing for approval by the Joint Authority has been lodged (whether before or after the commencement of the Petroleum (Submerged Lands) Legislation Amendment Act 1987):

(i) description and date of execution of the instrument evidencing the dealing;

(ii) date of approval by the Joint Authority or Designated Authority (if appropriate);

(iii) registration number (if any).

“(2) In subregulation (1), ‘related dealing’ means any dealing executed, before the execution of the instrument evidencing the dealing referred to in paragraph (1) (a), by some or all of the parties to that instrument:

(a) that affects the title which is the subject of the dealing to which the instrument referred to in paragraph (1) (a) relates; and

(b) that:

(i) creates or assigns an option to enter into the dealing referred to in paragraph (1) (a);

(ii) creates or assigns a right to enter into the dealing referred to in paragraph (1) (a); or

(iii) is altered or terminated by the dealing referred to in paragraph (1) (a);

and includes any transaction in respect of which an instrument was registered under section 81 of the Act before 22 July 1985.”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 17 December 1987.

2. Statutory Rules 1985 No. 174.

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