# The Petroleum (Current Model Clauses) Order 1999, Paragraph 5: Option to continue licence as to part of the licensed area

Extent: E+W+S+N.I.

(1) At any time not later than three months before the expiration of the said term of six years the Licensee paying the payments and royalties hereinafter provided and observing and performing the conditions herein contained may give notice in writing to the Minister that he desires the licence to continue as to a part of the licensed area (hereinafter called “the continuing part”) in the manner hereinafter provided and to determine as to the residue thereof (hereinafter called “the surrendered part”).
(2) Such notice shall describe the surrendered part which shall, together with any area previously surrendered in accordance with clause 4 hereof (the marginal note whereof is “Right of Licensee to determine licence or surrender part of licensed area”), not be less than one half of the area originally comprised in the licence or such smaller part of the area as the Minister may have agreed to in writing prior to the giving of such notice.
(3) Such notice shall specify a date not later than the expiry of the said term of six years upon which the surrendered part is to be surrendered.
(4) This licence shall upon the option conferred by this clause being duly exercised and subject to the provisions of this licence continue in respect of the continuing part for a term of forty years next after the date specified in the said notice.

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Source: https://www.legislation.gov.uk/uksi/1999/160/schedule/3/paragraph/5 (the official version)
Page: https://openlegislation.uk/petroleum-current-model-clauses-order-1999/schedule-3/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.