Regulation 4 Petroleum Licensing (Production) (Seaward Areas) Regulations 2008

(1)

In regulation 1(2) of the Petroleum Licensing (Production) (Seaward Areas) Regulations 2008^f1, for the definition of “seaward area” substitute—

““seaward area” has the meaning given by regulation 3(1)(a) of the Petroleum (Production) (Seaward Areas) Regulations 1988^f2”.

(2)

The Schedule to those Regulations is amended as follows.

(3)

In clause 2, for “seaward area more particularly” substitute “area”.

(4)

For clause 3(2) substitute—

“(2)
Unless sooner determined under any of its provisions, this licence shall continue—

(a)
for the Initial Term, subject to clause 10 and (where applicable) clauses 4 and 5;

(b)
for the Second Term, subject to clauses 6 and 10;

(c)
for the Third Term, subject to clauses 8 and 10.”.

(5)

In clause 5—

(a)

in paragraph (2), for “shall give” substitute “may give”; and

(b)

for paragraph (3) substitute—

“(3)
This licence shall automatically cease and determine on the expiry of the Early Surrender Period unless—

(a)
the Licensee has given notice in accordance with paragraph (2); or

(b)
at the request of the Licensee, the Minister has directed that the licence shall continue without such notice having been given.”.

(6)

In clause 30, after paragraph (3) insert—

“(3A)
The functions of the Minister under paragraph (3) shall be exercisable concurrently by the Chancellor of the Exchequer.”.

Annotations

Footnotes

f1: SI 2008/225; the Schedule to that instrument was amended by SI 2009/229.
f2: Regulation 3(1)(a) of, and Schedule 1 to, that instrument were amended by SI 1992/2378.