34Grant or refusal of retention licence

34 Grant or refusal of retention licence (1) The Minister may determine to grant a retention licence in respect of all, or part, of the land to which an application under section 32 relates, subject to the conditions the Minister thinks appropriate, if satisfied that: (a) the applicant complied with the requirements of this Act relating to an application for a retention licence; and (b) the applicant, as a permittee, complied with the provisions of this Act relating to the exploration permit and the exploration permit area and the directions, if any, given to the applicant by the Minister. (2) Where the Minister determines under subsection (1) to grant a retention licence, he shall give notice to the applicant of: (a) the conditions subject to which he is prepared to grant it; and notice, upon which the application shall lapse unless the Minister has received from him an acceptance of the conditions specified in the notice. (3) Where the Minister receives from an applicant, within the time specified, a written acceptance of the conditions specified in a notice under subsection (2), he shall grant to the applicant a retention licence, subject to those conditions. (3A) If the Minister grants a retention licence in respect of part only of Minister expressly states otherwise when granting the retention licence, remains in force in respect of the remainder of the land to (4) Where the Minister determines not to grant a retention licence he shall, as soon as practicable after he has so determined, serve notice of his refusal on the applicant. (5) A notice of the Minister's refusal to grant a retention licence must Petroleum Act 1984 37