49Request by applicant for grant of licence

49 Request by applicant for grant of licence (1) Where, at the expiration of the period specified in a notice under section 47(1), only one application has been made under that subsection in respect of the block specified in the notice, the Minister may reject or grant the application. (2) Where, at the expiration of the period specified in a notice under section 47(1), 2 or more applications have been made under that subsection in respect of the block specified in the notice, the Minister may reject any or all of the applications and, if he does not reject all of the applications, may: (a) if only one application remains unrejected – by notice in writing served on the applicant; or (b) if 2 or more applications remain unrejected – by notice in writing served on the applicant, or on one of the applicants, whose application has not been rejected and who has specified in his application an amount, or a rate of royalty, that he would be prepared to pay that is not less than the amount, or the rate of royalty, specified in the application of any other applicant whose application has not been rejected,

Petroleum (Submerged Lands) Act 1981 53 inform the applicant: (c) that he is prepared to grant to him a licence; and (d) that the applicant will be required to pay: (i) the amount specified in the application; (ii) royalty at the rate specified in the application; or (iii) royalty at the rate specified in the application and the amount specified in the notice under section 47(1), as the case may be. (5) A notice under any of the preceding provisions of this section shall contain: (a) a summary of the conditions subject to which the licence is to be granted; (b) a statement of the balance of the amount, if any, that the applicant will be required to pay in respect of the grant of the licence to him; and (c) a statement to the effect that the application will lapse: (i) if the applicant does not make a request under subsection (6); or (ii) in a case where the notice contains a statement referred to in paragraph (b) – if the applicant does not pay the balance of the amount referred to in that statement or enter into an agreement under section 109 in respect of that balance. (6) An applicant who has been served with a notice under any of the preceding provisions of this section may, within a period of 3 months after the date of service of the notice on him, or within such further period, not exceeding 3 months, as the Minister, on application in writing served on him before the expiration of the first- mentioned period of 3 months, allows: (a) by notice in writing served on the Minister, request the Minister to grant to him the licence; and

Petroleum (Submerged Lands) Act 1981 54 (b) if the first-mentioned notice contains a statement of the balance of an amount that the applicant will be required to pay in respect of the grant of the licence to him – pay that balance or enter into an agreement under section 109 in respect of that balance. (7) Where an applicant who has been served with a notice under subsection (1) or (2): (a) has not made a request under subsection (6); or (b) if the notice contains a statement of the balance of an amount that the applicant will be required to pay in respect of the grant of a licence to him – has not paid that balance or entered into an agreement under section 109 in respect of that balance, within the period applicable under subsection (6), the application (8) Where the application lapses, as provided by subsection (7), of an applicant who has been served with a notice under subsection (2), subsection (2) applies in respect of the application or applications, if any, then remaining unrejected.