Commonwealth Numbered Acts

OFFSHORE MINERALS ACT 1994 No. 28, 1994 - SECT 7

7.(1) For the purposes of this Act, a licence is transferred if:

   (a)  the licence has only one holder and the holder transfers the whole of
        his or her interest in the licence to another person or other persons;
        or

   (b)  the licence has 2 or more holders and the holders all transfer the
        whole of their interests in the licence to another person or other
        persons.

(2) For the purposes of this Act, a share in a licence is transferred if:

   (a)  the licence has only one holder and the holder transfers a part of the
        holder's share in the licence to another person or other persons; or

   (b)  the licence has 2 or more holders and:

        (i)    some, but not all, of the holders transfer the whole of their
               shares in the licence to another person; or

        (ii)   some or all of the holders transfer a part of their shares in
               the licence to another person.

(3) The other person referred to in paragraph (2)(b) may be an existing
licence holder.