Offshore Minerals Act 1999
154Initial term of retention licence
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154 Initial term of retention licence
154 Initial term of retention licence
(1) A retention licence comes into force on:
(a) the day on which the grant of the licence is registered, or
(b) if a day later than the day on which the grant of the licence is registered is specified in the licence as its commencement day, that specified day.
(2) The initial term of a retention licence expires at the end of the period specified in the licence under section 146 (1).
Note 1—
For the maximum initial term see section 146 (2).
Note 2—
The licence may be surrendered at any time (see section 187).
(3) The period runs from:
(a) the day on which the licence is provisionally granted, or
(b) if a day later than the day on which the licence is provisionally granted is specified in the licence as its commencement day, that specified day.