"(5A) A petroleum retention lease may be obtained as a result of a change to the boundary of the offshore area.". 18 Conditions of petroleum retention leases After section 119(2) of the Principal Act insert— "(3) Subsection (1) does not apply to a petroleum retention lease granted under section 141A.". 19 Standard conditions of petroleum retention leases In section 120(6) of the Principal Act, for "119(1) or 121(3)" "119(1), 121(3) substitute or 121A(1)". 20 New section 121A inserted section 121 of the Principal Act insert— "121A Variation of petroleum retention leases obtained as result of change to the boundary of the offshore area Minister may, by written notice to the lessee of a petroleum retention lease granted under section 141A, vary the lease by imposing one or more conditions to which the lease is subject. notice subsection (1) must be given within 14 days after the grant of the lease. variation subsection (1) takes effect on the day on which notice of the variation is given to the lessee.". 21 Duration of petroleum retention lease
"(5A) A petroleum retention lease may be obtained as a result of a change to the boundary of the offshore area.". 18 Conditions of petroleum retention leases After section 119(2) of the Principal Act insert— "(3) Subsection (1) does not apply to a petroleum retention lease granted under section 141A.". 19 Standard conditions of petroleum retention leases In section 120(6) of the Principal Act, for "119(1) or 121(3)" substitute "119(1), 121(3) or 121A(1)". 20 New section 121A inserted section 121 of the Principal Act insert— "121A Variation of petroleum retention leases obtained as result of change to the boundary of the offshore area Minister may, by written notice to the lessee of a petroleum retention lease granted under section 141A, vary the lease by imposing one or more conditions to which the lease is subject. notice subsection (1) must be given within 14 days after the grant of the lease. variation subsection (1) takes effect on the day on which notice of the variation is given to the lessee.". 21 Duration of petroleum retention lease