Offshore Minerals Act 1999
88Initial term of exploration licence
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88 Initial term of exploration licence
88 Initial term of exploration licence
(1) An exploration 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 an exploration licence ends:
(a) 4 years after 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, 4 years after that specified day.
Note—
The licence may be surrendered at any time (see section 127).