Commonwealth Numbered Acts

OFFSHORE MINERALS ACT 1994 No. 28, 1994 - SECT 6

6.(1) A person has a share in a licence if the person is the holder, or one of
the holders, of the licence.

(2) If a holder is entitled to a particular percentage of the value of the
rights conferred by a licence, that percentage is the holder's share in the
licence. Note: A sole holder has a 100% share in the licence.

(3) If:

   (a)  a person is a registered holder of a licence; and

   (b)  the person is shown in an offshore mining register as being entitled
        to a specified percentage of the value of the rights conferred by the
        licence; the person's share in the licence is taken to be the
        percentage specified in the register.