Post-commencement Petroleum Retention Lease

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Post-commencement petroleum retention lease means:

an original petroleum retention lease that was granted to the registered holder of:
1. a post-commencement petroleum exploration permit; or
2. a post-commencement petroleum production licence; that was in force over the block or blocks to which the original petroleum retention lease relates; or
a petroleum retention lease that was granted by way of renewal, where the original petroleum retention lease was granted to the registered holder of:
1. a post-commencement petroleum exploration permit; or
2. a post-commencement petroleum production licence; that was in force over the block or blocks to which the original petroleum retention lease related.

Source: Offshore Petroleum and Greenhouse Gas Storage Act 2006, Australia, amended 2012. Legislation

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