Summary
Amends the:
Offshore Petroleum and Greenhouse Gas Storage Act 2006
and
Petroleum Resource Rent Tax Assessment Act 1987
to ensure the ongoing validity of apportionment agreements, where it becomes apparent that an agreement relates to an area which contains multiple petroleum pools, rather than a single discrete pool; and
Offshore Petroleum and Greenhouse Gas Storage Act 2006
to: include a regulation making power to ensure there is a legal basis for the regulations to provide for the refund and remittal of environment plan (EP) levies; provide for the retrospective commencement of this regulation making power to ensure the validity of refunds of EP levies previously made to offshore petroleum titleholders; and clarify that regulations can provide for the remittal and refund of safety case levies.