OFFSHORE MINERALS ACT 1994 - SECT 117 General
OFFSHORE MINERALS ACT 1994 - SECT 117
General(1) The sources of obligations associated with an exploration licence are:
(a) the licence conditions; and
(b) obligations arising from compliance directions given by the Designated Authority; and
(c) obligations imposed by this Act and the regulations.
Note: For paragraph ( a) see sections 118 to 120. For paragraph ( b) see sections 387 and 392. For paragraph ( c) see sections 123 to 125 and section 372.
(2) If an exploration licence has 2 or more holders, all the
holders are jointly and severally bound by the obligations that attach to the
licence.