Western Australian Consolidated Acts

OFFSHORE MINERALS ACT 2003 - SECT 6

6 .         Shares in a licence

        (1)         A person has a share in a licence if the person is the holder, or one of the holders, of the licence.

        (2)         If a holder is entitled to a particular percentage of the value of the rights conferred by a licence, that percentage is the holder’s share in the licence.

Note:         A sole holder has a 100% share in the licence.

        (3)         If — 

            (a)         a person is a registered holder of a licence; and

            (b)         the person is shown in an offshore mining register as being entitled to a specified percentage of the value of the rights conferred by the licence,

                the person’s share in the licence is taken to be the percentage specified in the register.