Petroleum (Timor Sea Treaty) Act 2003

Schedule 1 - Timor Sea Treaty  

Note: This is the copy of the Treaty referred to in the definition of Treaty in subsection 5(1) of this Act.

 

Annex D under Article 6(c)(ii) of this Treaty  

Powers and Functions of the Joint Commission

1. The powers and functions of the Joint Commission shall include:

(a) giving directions to the Designated Authority on the discharge of its powers and functions;

(b) conferring additional powers and functions on the Designated Authority;

(c) adopting an interim Petroleum Mining Code pursuant to Article 7(b) of the Treaty, if necessary;

(d) approving financial estimates of income and expenditure of the Designated Authority;

(e) approving rules, regulations and procedures for the effective functioning of the Designated Authority;

(f) designating the Designated Authority for the period referred to in Article 6(b)(i);

(g) at the request of a member of the Joint Commission inspecting and auditing the Designated Authority's books and accounts or arranging for such an audit and inspection;

(h) approving the result of inspections and audits of contractors' books and accounts conducted by the Joint Commission;

(i) considering and adopting the annual report of the Designated Authority;

(j) of its own volition or on recommendation by the Designated Authority, in a manner not inconsistent with the objectives of this Treaty amending the Petroleum Mining Code to facilitate petroleum activities in the JPDA;

2. The Joint Commission shall exercise its powers and functions for the benefit of the peoples of Australia and East Timor having regard to good oilfield, processing, transport and environmental practice.