- Industry, Tourism and Resources
- Originating house
- House of Representatives
- Parliament no
- Implements recommendations from a national review of legislation governing exploration and development of offshore petroleum resources and its compliance with competition policy principles by amending the
Petroleum (Submerged Lands) Act 1967 to: impose a limit on renewals of exploration permits; and reduce compliance costs for the petroleum industry by reducing the number of reviews required, of the commerciality of a discovery held under a retention lease.
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