OFFSHORE MINERALS ACT 1994 - SECT 48 Licence rights may be suspended

OFFSHORE MINERALS ACT 1994 - SECT 48

  (1)   The Joint Authority must suspend particular rights conferred by an exploration licence if the Joint Authority is satisfied that it is necessary in the national interest to do so.

  (2)   The Joint Authority may suspend rights under subsection   ( 1) for a specified period or for an indefinite period.

  (3)   The Joint Authority may end a suspension at any time.

  (4)   A suspension or the ending of a suspension must be in writing.

  (5)   If the Joint Authority:

  (a)   suspends rights conferred by an exploration licence; or

  (b)   ends a suspension;

the Joint Authority must give the licence holder a written notice that informs the holder of the suspension or the ending of the suspension.

Note:   See section   122 for the effect of the suspension on the obligations associated with the licence.

  (6)   A suspension takes effect when:

  (a)   the holder has been given notice of the suspension under subsection   ( 5); and

  (b)   the suspension has been registered under section   337.