OFFSHORE MINERALS ACT 1994 - SECT 73 Matters to be determined before applications for exploration licence over tender blocks invited

OFFSHORE MINERALS ACT 1994 - SECT 73

    If the Joint Authority proposes to invite applications for the grant of an exploration 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 licence conditions.