20 June, 2013
Legal News & Analysis – Asia Pacific – Australia – Energy & Project Finance
WHAT YOU NEED TO KNOW
- On 28 May 2013, the Offshore Petroleum and Greenhouse Gas Storage Amendment (Compliance Measures No. 2) Act 2013 (Cth) received Royal Assent.
- This activated certain commencement provisions of the Act, including, importantly, the operation of the "polluter pays" principle.
WHAT YOU NEED TO DO
- Interested parties should review the provisions of the Act (of which the substantive content is set out in our earlier Energy & Resources Update dated 27 March 2013: Increased environmental and pollution compliance requirements for offshore oil and gas facilities) to be aware of their additional liabilities under these amendments and in particular, to be cognisant of when those liabilities will commence operation.
Yesterday, the Offshore Petroleum and Greenhouse Gas Storage Amendment (Compliance Measures No. 2) Act 2013 (Cth) received Royal Assent. Certain provisions of the Act will begin today, 29 May 2013, whilst others will commence at a later date (if at all). For general information about the substance of the Act, see our earlier update: Increased environmental and pollution compliance requirements for offshore oil and gas facilities.
For your convenience, the key commencement dates for the Act are as follows:
- Importantly, the "polluter pays" principle introduced by the Act will commence today (29 May 2013), as do the provisions pertaining to the power of the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) to give particular directions.
- The provisions relating to infringement notices and prohibition and improvement notices will commence after the commencement of Schedule 2 of the Offshore Petroleum and Greenhouse Gas Storage Amendment Compliance Measures) Act 2013 (Cth) (Compliance Measures Act) (which introduces various civil penalty provisions into the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth) (OPGGSA). Schedule 2 of the Compliance Measures Act does not commence, however, until the commencement of the Regulatory Powers (Standard Provisions) Bill 2012 (Cth). At present, this Bill is before the House of Representatives and it is unclear if and when it will be passed.
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These provisions relating to the required financial assurance and multiple titleholders will commence once proclaimed. There is, as yet, no indication of when this might be.
For further information, please contact:
Paul Newman, Partner, Ashurst
[email protected]
Shane Bosma, Ashurst
[email protected]
John Briggs, Partner, Ashurst
[email protected]
Robert Jamieson, Partner, Ashurst
[email protected]
Geoff Gishubl, Partner, Ashurst
[email protected]
Peter Vaughan, Partner, Ashurst
[email protected]
Katie Winterbourne, Partner, Ashurst
[email protected]
Tony Hill, Partner, Ashurst
[email protected]
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