Australian Govt. Amends Offshore Petroleum Act

As of July 1, 2008, sections three to five of the Commonwealth Offshore Petroleum Act 2006 will come into effect and the Petroleum Submerged Lands Act 1967 will be repealed.

Department of Industry and Resources Petroleum and Royalties Division Principal Legislation and Policy Officer Colin Harvey said the new Offshore Act is a rewrite of the Commonwealth Petroleum and Submerged Lands Act 1967.
He said industry, regulators and other stakeholders were extensively consulted during the re-write. 
The Offshore Petroleum Act and associated acts that come into effect on July 1, 2008 are:
  • Offshore Petroleum Act 2006
  • Offshore Petroleum (Annual Fees) Act 2006
  • Offshore Petroleum (Registration Fees) Act 2006
  • Offshore Petroleum (Royalty) Act 2006
  • Offshore Petroleum (Safety Levies) Amendment Act 2006
  • Offshore Petroleum (Repeals and Consequential Amendments) Act 2006
  • Offshore Petroleum Amendment (Greater Sunrise) Act 2007
  • Offshore Petroleum Amendment (Miscellaneous Measures) Act 2008
The Petroleum and Submerged Lands Act and associated acts to be repealed on July 1, 2008 are:
  • Petroleum (Submerged Lands) Act 1967
  • Petroleum (Submerged Lands) Fees Act 1994
  • Petroleum (Submerged Lands) (Registration Fees) Act 1967
  • Petroleum (Submerged Lands) (Royalty) Act 1967

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