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Section 6 - Offshore Minerals Act 1994 - Shares in a licence — Zoe

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Offshore Minerals Act 1994

6Shares in a licence

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#### 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 an 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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