OFFSHORE MINERALS ACT 1994 - SECT 158 Voluntary surrender of blocks if discrete area remains

OFFSHORE MINERALS ACT 1994 - SECT 158

  (1)   A retention licence holder may surrender a block or some of the blocks covered by the licence if the remaining blocks in the licence area form a discrete area.

Note:   See section   187 for the surrender of the whole licence.

  (2)   A surrender under subsection   ( 1):

  (a)   must be made in a written notice; and

  (b)   must identify the blocks surrendered; and

  (c)   must be given to the Designated Authority.

Note:   The surrender takes effect when it is registered under section   337 (see subsection   337(5)).