S 2 repealed by No 18 of 2012, s 3 and Sch 4 item 48, effective 1 July 2012. S 2 formerly read:
HOLDING AN INTEREST
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PETROLEUM PROJECT
2
For the purposes of this Schedule, a person is taken to have held an interest in relation to a petroleum project at a particular time if:
(a)
where:
(i)
the project is not a combined project or the Bass Strait project; and
(ii)
the time is a time after the production licence in relation to the project came into force;
the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from the production licence area in relation to the project; or
(b)
where:
(i)
the project is not a combined project or the Bass Strait project; and
(ii)
the time is a time before the production licence in relation to the project came into force;
the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from a pre-licence area in relation to the production licence; or
(c)
where:
(i)
the project is a combined project; and
(ii)
the time is a time after the project combination certificate came into force;
the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from the production licence areas in relation to the project; or
(d)
where:
(i)
the project is a combined project; and
(ii)
the time is a time:
(A)
before the project combination certificate came into force; and
(B)
after the earliest of the production licences in relation to the pre-combination projects came into force;
the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from one or more of the production licence areas in relation to the pre-combination projects; or
(e)
where:
(i)
the project is a combined project; and
(ii)
the time is a time before the earliest of the production licences in relation to the pre-combination projects came into force;
the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from a pre-licence area in relation to that earliest production licence; or
(f)
if the project is the Bass Strait project
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the person was, at that time, entitled to receive receipts from the sale of petroleum, or marketable petroleum commodities produced from petroleum, recovered from the production licence areas in relation to the project.
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