The Offshore Petroleum Guideline: Transfers and Dealings Related to Petroleum Titles (the Guideline) provides an overview of the requirements and processes involved with an application for approval and registration of a dealing.
This fact sheet provides guidance on completing supplementary instruments.
The Act provides that an application for approval of a dealing may be accompanied by a supplementary instrument (s 489(2)).
Where the Titles Administrator (TA) approves a dealing, and a supplementary instrument has been provided, a copy of the supplementary instrument will be placed on the Titles Register and made available for public inspection in place of the full dealing (s 495(2)).
A supplementary instrument is used where the original instrument evidencing the dealing contains information that the parties want kept confidential, such as commercially sensitive information.
Its purpose is to clearly describe the effect(s) of the dealing or transaction while preserving confidentiality.
As the supplementary instrument replaces the full dealing instrument on the Titles Register, it should enable a person inspecting the Titles Register to understand what the effect of the dealing is.
One of the TA’s legislative functions is to keep a register of offshore titles and petroleum special prospecting authorities (the Titles Register – s 469).
The Titles Register is a public record of matters relating to offshore petroleum titles, including commercial transactions such as dealings. It:
The TA considers the integrity and accuracy of the Titles Register to be of significant importance.
Information that must be included
Regulation 12.02(1) of the Offshore Petroleum and Greenhouse Gas Storage (Resource Management and Administration) Regulations 2011 (the Regulations) sets out the information that must be included in a supplementary instrument.
In summary, this includes:
A supplementary instrument should contain, in plain English, as much information as possible about the legal effect(s) of the dealing.
Where the TA is not satisfied that sufficient detail has been provided the applicant may be requested to amend the supplementary instrument.
To assist applicants, a sample supplementary instrument, with guidance notes on addressing the required details (as prescribed by the Regulations), is appended to the PDF version of the fact sheet linked below.
If you have any questions regarding petroleum title dealing supplementary instruments, please contact firstname.lastname@example.org.
Please note: this document is intended as a guide only and should not be relied on as legal advice or regarded as a substitute for legal advice in individual cases.