Queensland Consolidated Acts

OFFSHORE MINERALS ACT 1998 - SECT 7

(1) A tenure is transferred if—

(a) the tenure has only 1 holder and the holder transfers the whole of the licensee's interest in the tenure to another person or other persons; or

(b) the tenure has 2 or more holders and the holders all transfer the whole of their interests in the tenure to another person or other persons.

(2) A share in a tenure is transferred if—

(a) the tenure has only 1 holder and the holder transfers a part of the holder's share in the tenure to another person or other persons; or

(b) the tenure has 2 or more holders and—

(i) some, but not all, of the holders transfer the whole of their shares in the tenure to another person; or

(ii) some or all of the holders transfer a part of their shares in the tenure to another person.

(3) The other person referred to in subsection (2)(b) may be an existing tenure holder.