Australian Tax Treaties
Timor-Leste (Timor Sea Maritime Boundaries Treaty)
TREATY BETWEEN AUSTRALIA AND THE DEMOCRATIC REPUBLIC OF TIMOR-LESTE ESTABLISHING THEIR MARITIME BOUNDARIES IN THE TIMOR SEA
ARTICLE 10
Compensation
The Parties agree that neither Party shall have a claim for compensation with respect to Petroleum Activities conducted in the Timor Sea as a result of: (a) the cessation of the Joint Petroleum Development Area as established by Article 3 of the Timor Sea Treaty upon termination of that treaty; (b) the establishment of the continental shelf boundary under this Treaty; (c) an adjustment to the continental shelf boundary as a result of the application of Article 3 of this Treaty; or (d) the cessation of the Greater Sunrise Special Regime.
The Parties agree that neither Party shall have a claim for compensation with respect to Petroleum Activities conducted in the Timor Sea as a result of: (a) the cessation of the Joint Petroleum Development Area as established by Article 3 of the Timor Sea Treaty upon termination of that treaty; (b) the establishment of the continental shelf boundary under this Treaty; (c) an adjustment to the continental shelf boundary as a result of the application of Article 3 of this Treaty; or (d) the cessation of the Greater Sunrise Special Regime.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.