OFFSHORE MINERALS ACT 1994 - SECT 340 Devolution of licences

OFFSHORE MINERALS ACT 1994 - SECT 340

  (1)   If:

  (a)   the rights of a licence holder have devolved to a person by operation of law; and

  (b)   the person applies to the Designated Authority in writing to be registered as a licence holder; and

  (c)   the licence is given to the Designated Authority for annotation under subsection   ( 3); and

  (d)   the person pays the fee prescribed by the regulations; and

  (e)   the Designated Authority is satisfied that the applicant is entitled to those rights; and

  (f)   section   341 (caveats) does not prevent the registration of the person as a licence holder;

the Designated Authority must register the person as a licence holder.

  (2)   If the Designated Authority registers a person as a licence holder under subsection   ( 1), the Designated Authority must also register the date and time of registration.

  (3)   If the Designated Authority registers a person as a licence holder under subsection   ( 1), the Designated Authority must annotate the licence accordingly.

  (4)   The Designated Authority must return the annotated licence to the person who gave it to the Designated Authority.

  (5)   This section applies to 2 or more persons to whom rights have devolved in the same way as it applies to a single person to whom rights have devolved.