OFFSHORE MINERALS ACT 1994 - SECT 349 Notice to caveat holder

OFFSHORE MINERALS ACT 1994 - SECT 349

  (1)   If:

  (a)   a transfer of a licence or a share in a licence is lodged with the Designated Authority under section   338; and

  (b)   a caveat is in force on the licence;

the Designated Authority must, subject to subsection   ( 6), notify the caveat holder that the transfer has been lodged for registration.

  (2)   If:

  (a)   a dealing in a licence (other than a transfer of the licence or a share in the licence) is lodged with the Designated Authority under section   339; and

  (b)   a caveat is in force on the licence;

the Designated Authority must, subject to subsection   ( 6), notify the caveat holder that the dealing has been lodged for registration.

  (3)   If:

  (a)   a person applies to the Designated Authority under section   340 to be registered as a licence holder; and

  (b)   a caveat is in force on the licence;

the Designated Authority must notify the caveat holder that the application has been made.

  (4)   If:

  (a)   a licence holder surrenders the licence or surrenders a block or some of the blocks covered by the licence; and

  (b)   a caveat is in force on the licence;

the Designated Authority must notify the caveat holder of the surrender.

  (5)   Notification under subsection   ( 1), (2), (3) or (4) must be by registered post or certified mail.

  (6)   Notice is not to be given under subsection   ( 1) or (2) if:

  (a)   the caveat holder is a party to the transfer or dealing concerned; or

  (b)   the caveat holder has specified the class of dealings the caveat holder wants to receive notice of (see subsection   343(2)) and the transfer or dealing falls outside that class.