110Partial transfers of permits and licences

110 Partial transfers of permits and licences (1) The holder of an exploration permit or a production licence may apply to the Minister to transfer part of the permit or licence area to another person. (2) The Minister may transfer the area if, in the opinion of the Minister, the transfer will maintain or increase petroleum operations in the area. (3) A transfer is to be effected by the issue of a separate permit or licence to the other person. (4) The separate permit or licence— (a) expires when the permit or licence from which it was derived expires; and (b) is subject to the same conditions as applied to that permit or licence (unless those conditions are varied by the Minister in accordance with this Act). (5) The Minister must not approve a transfer under this section that, in her or his opinion, is not in the best interests of the people of Victoria. S. 110(6) inserted by No. 57/2009 s. 40. (6) If the area that is the subject of an application under subsection (1) is also the subject of a special drilling authorisation, an applicant for a transfer under this section must specify in the application— (a) that the applicant is retaining the special drilling authorisation for that part of the area that is not being transferred; or (b) that the applicant is transferring the special drilling authorisation to the other person. Division 4—Surrender or cancellation of authorities