New South Wales Consolidated Acts

OFFSHORE MINERALS ACT 1999 - SECT 42

42 Rights to minerals recovered

(1) Any minerals recovered by a licence holder or special purpose consent holder from a block covered by the licence or consent become the property of the holder when they are recovered.

(2) If the licence or consent authorises the exploration for and the recovery of minerals only of a particular kind, subsection (1) only applies to the recovery of minerals of that kind.

(3) Subsection (1) does not apply to the recovery of minerals by a works licence holder.

(4) The minerals recovered are not subject to the rights of any other person.

(5) Subsection (4) does not apply to rights that the licence or consent holder transfers to the other person.