OFFSHORE MINERALS ACT 1994 - SECT 217 Matters to be determined before applications for mining licence over tender blocks invited
OFFSHORE MINERALS ACT 1994 - SECT 217
Matters to be determined before applications for mining licence over tender blocks invited(1) If the Joint Authority proposes to invite applications for the grant of a mining licence over reserved blocks, the Joint Authority must, before inviting the applications, determine:
(a) the procedure and criteria that the Joint Authority will adopt to allocate the licence; and
(b) the amount of security that will be required for the licence under section 399; and
(c) the initial term of the licence; and
(2) The term determined under paragraph ( 1)(c) is not to
exceed 21 years.