AUSTRALIAN TAX TREATIES

East Timor Sea Treaty  

TIMOR SEA TREATY BETWEEN THE GOVERNMENT OF EAST TIMOR AND THE GOVERNMENT OF AUSTRALIA  

ARTICLE 3   Joint Petroleum Development Area  

(a) The Joint Petroleum Development Area (JPDA) is established. It is the area in the Timor Sea contained within the lines described in Annex A .


(b) Australia and East Timor shall jointly control, manage and facilitate the exploration, development and exploitation of the petroleum resources of the JPDA for the benefit of the peoples of Australia and East Timor.


(c) Petroleum activities conducted in the JPDA shall be carried out pursuant to a contract between the Designated Authority and a limited liability corporation or entity with limited liability specifically established for the sole purpose of the contract. This provision shall also apply to the successors or assignees of such corporations.


(d) Australia and East Timor shall make it an offence for any person to conduct petroleum activities in the JPDA otherwise than in accordance with this Treaty.




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