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The application was lodged by the Astrolabe Community Trust, on behalf of the ship's owners.
Opponents will now have the opportunity to make formal submissions on why they believe the wreck and its debris should be permanently removed.
The regional council released a statement this afternoon stating it had accepted the trust's application and invited people to make submissions from Friday, June 13.
Deputy chief executive of the regional council Eddie Grogan said: "Due to the importance of this process to the people of the Bay of Plenty we have decided to double the normal period for submissions from 20 working days to 40 working days.
"This means people will have until Friday 8 August to file their submissions," Mr Grogan said.
The council has established the website www.renaresourceconsent.org.nz to provide all interested people with information on the process, including the application itself.
"The role of the Regional Council in this process is to receive any application for a resource consent and facilitate submissions by all interested members of the public, including iwi, community and interest groups, local government organisations and the residents of all affected communities," Mr Grogan said.
"At this time we have no preferred position on the future of the wreck and we are keen to hear the views of everyone with an interest in the Rena.
"Bay of Plenty Regional Council will now go through the process of publicly notifying the application and this means that on Friday 13 June we will be calling for submissions.
The owner of the Rena has indicated it intends to request that the application is directly referred to the Environment Court and if that occurs, the Bay of Plenty Regional Council will still receive submissions and will assist the Environment Court in its considerations.
Mr Grogan said the website www.renaresourceconsent.org.nz has been established to provide information on the resource consent process and to guide those interested through the process if they wish to make a submission.
"The council's objective is to be an open, transparent and excellent source of quality information to people interested in the resource consent process," Mr Grogan said.