EXPLANATORY STATEMENT
Subject - Petroleum (Submerged Lands) Act 1967
Petroleum (Submerged Lands) Regulations
Statutory Rules 1987 No. 293
Section 157(1) of the Petroleum (Submerged Lands) Act 1967 provides for the Governor-General to make Regulations, not inconsistent with this Act, prescribing all matters that by this Act are required or permitted to be prescribed for carrying out or giving effect to this Act. Subsection 11(1) of the Petroleum (Submerged Lands) Legislation Amendment Act 1987 (Act No 106, Assented to on 13 November 1987) amends section 81 of the Petroleum (Submerged Lands) Act 1967 and provides that the Regulations may prescribe particulars of an instrument which may accompany an application under section 81 to register a dealing affecting an interest in a title.
The proposed Regulation, being Regulation 4, is to be made under the powers conferred by the Petroleum (Submerged Lands) Act 1967 as amended by section 11 of the Petroleum (Submerged Lands) Legislation Amendment Act 1987. That section is not yet in force. For this reason the proposed Regulation purports to be made pursuant to section 4 of the Acts Interpretation Act 1901. That section enables Regulations to be made before the enabling Act is in operation and if so made, the Regulations would take effect either on the day on which that Act comes into operation or on the day on which the Regulations would have taken effect if that Act had been in operation when the Regulations were made, whichever is the later. Section 4 of the Acts Interpretation Act 1901 and the proclamation of section 11 of the Petroleum (Submerged Lands) Legislation Amendment Act 1987 (Executive Council Minute No 30 refers) on 1 January 1988 will ensure that the proposed Regulation will commence on that day.
The Regulation sets out the particulars to be contained in the instrument referred to in paragraph 81(4)(b) of the Petroleum (Submerged Lands) Act 1967 which may, at the applicant’s discretion, accompany an application to register a dealing affecting an interest in an offshore petroleum title. Whenever a paragraph 81(4)(b) instrument is lodged with an application then that instrument, rather than the instrument evidencing the dealing (paragraph 81(4)(a) refers), is available for public inspection. This gives effect to the Government’s intention that commercially sensitive information contained in the instrument evidencing the dealing should remain confidential.
Authority: Subsection 157(1) of the Petroleum (Submerged Lands) Act 1967