Taxation Laws Amendment Act (No. 6) 2001 (169 of 2001)

Schedule 1   Petroleum Resource Rent Tax

Part 2   The 5 year rule

Petroleum (Submerged Lands) Act 1967

14   Transitional

If, before the commencement of this item, a notice was issued by a Designated Authority stating that sufficient information had been received to determine an application made under section 39A, 40 or 40A of the Petroleum (Submerged Lands) Act 1967, then, for the purposes of that Act as amended by this Act:

(a) that notice is taken to have been issued under subsection 41(3) of that Act; and

(b) the date that the notice was issued is taken to be the date specified in the notice.