Offshore Minerals Act 1998
sec.7Transfer of a tenure
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sec.7 Transfer of a tenure
A tenure is transferred if— the tenure has only 1 holder and the holder transfers the whole of the licensee’s interest in the tenure to another person or other persons; or the tenure has 2 or more holders and the holders all transfer the whole of their interests in the tenure to another person or other persons. A share in a tenure is transferred if— the tenure has only 1 holder and the holder transfers a part of the holder’s share in the tenure to another person or other persons; or the tenure has 2 or more holders and— some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or some or all of the holders transfer a part of their shares in the tenure to another person. The other person referred to in subsection (2) (b) may be an existing tenure holder. (sec.7-ssec.1) A tenure is transferred if— the tenure has only 1 holder and the holder transfers the whole of the licensee’s interest in the tenure to another person or other persons; or the tenure has 2 or more holders and the holders all transfer the whole of their interests in the tenure to another person or other persons. (sec.7-ssec.2) A share in a tenure is transferred if— the tenure has only 1 holder and the holder transfers a part of the holder’s share in the tenure to another person or other persons; or the tenure has 2 or more holders and— some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or some or all of the holders transfer a part of their shares in the tenure to another person. (sec.7-ssec.3) The other person referred to in subsection (2) (b) may be an existing tenure holder.
- (a) the tenure has only 1 holder and the holder transfers the whole of the licensee’s interest in the tenure to another person or other persons; or
- (b) the tenure has 2 or more holders and the holders all transfer the whole of their interests in the tenure to another person or other persons.
- (a) the tenure has only 1 holder and the holder transfers a part of the holder’s share in the tenure to another person or other persons; or
- (b) the tenure has 2 or more holders and— (i) some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or (ii) some or all of the holders transfer a part of their shares in the tenure to another person.
- (i) some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or
- (ii) some or all of the holders transfer a part of their shares in the tenure to another person.
- (i) some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or
- (ii) some or all of the holders transfer a part of their shares in the tenure to another person.