Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 99

             (1)  An exploration licence holder may surrender a block or some of the blocks covered by the licence if the remaining blocks in the licence area form a discrete area.

Note:          See section 127 for the surrender of the whole licence.

             (2)  A surrender under subsection (1) must:

                     (a)  be made in writing; and

                     (b)  identify the blocks surrendered; and

                     (c)  be given to the Designated Authority.

Note:          The surrender takes effect when it is registered under section 337 (see subsection 337(5)).