Offshore Minerals Act 1999
7Transfer of a licence
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7 Transfer of a licence
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 subsection (2) (b) may be an existing licence holder.