New South Wales Consolidated Acts

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OFFSHORE MINERALS ACT 1999 - SECT 6

Shares in a licence

6 Shares in a licence

(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 the 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.



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