Offshore Minerals Act 1994
7Transfer of a licence
Start here
Get a plain-English read of 7
Turn the raw legal text into a practical explanation grounded in Offshore Minerals Act 1994.
7 Transfer of a licence
(1) For the purposes of this Act, a licence is transferred if: (a) the licence has only one holder and the holder transfers the whole of his or her interest in the licence to another person or other persons; or (b) the licence has 2 or more holders and the holders all transfer the whole of their interests in the licence to another person or other persons. (2) For the purposes of this Act, a share in a licence is transferred if: (a) the licence has only one holder and the holder transfers a part of the holder’s share in the licence to another person or other persons; or (b) the licence has 2 or more holders and: (i) some, but not all, of the holders transfer the whole of their shares in the licence to another person; or (ii) some or all of the holders transfer a part of their shares in the licence to another person. (3) The other person referred to in paragraph (2)(b) may be an existing licence holder.