C2Part I Petroleum

Annotations:
Modifications etc. (not altering text)
C2

Pt. 1 modified (13.11.2009 for specified purposes) by Energy Act 2008 (c. 32), ss. 15(3), 110(2); S.I. 2009/2809, art. 2 (with art. 4)

3 Licences to search and bore for and get petroleum.

C1C31

The F1 appropriate F4authority, on behalf of Her Majesty, may grant to such persons as F2the appropriate F4authority thinks fit licences to search and bore for and get petroleum to which this section applies.

2

This section applies to—

a

petroleum to which section 2 applies; and

b

petroleum with respect to which rights vested in Her Majesty by section 1(1) of the M1Continental Shelf Act 1964 (exploration and exploitation of continental shelf) are exercisable.

3

Any such licence shall be granted for such consideration (whether by way of royalty or otherwise) as the F5OGA with the consent of the Treasury may determine, and upon such other terms and conditions as the F3appropriate F6authority thinks fit.

4

Subsection (1) is subject to paragraph 4 of Schedule 3.