New South Wales Consolidated Acts

OFFSHORE MINERALS ACT 1999 - SECT 6

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.