Western Australian Consolidated Acts

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OFFSHORE MINERALS ACT 2003 - SECT 7

7 .         Transfer of a licence

        (1)         For the purposes of this Act, a licence is transferred if — 

            (a)         the licence has only one holder and the holder transfers the whole of the licensee’s interest in the licence to another person or other persons; or

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

        (2)         For the purposes of this Act, a share in a licence is transferred if — 

            (a)         the licence has only one holder and the holder transfers a part of the holder’s share in the licence to another person or other persons; or

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

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

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

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



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