Paragraph 4 Determination of Licence during Initial Term where a Drill-or-Drop Period is specifiedI1
United Kingdom
Where a Drill-or-Drop Period is specified, this licence shall, unless the F1OGA in F2its discretion decides otherwise, automatically cease and determine on the expiry of that period in the event of failure by the Licensee before the expiry of that period to—
take the actions that are described in Part 1 of the Work Programme; and
undertake to complete on or before the expiry of the Initial Term the work described in Part 2 of the Work Programme.
In this clause, “Drill-or-Drop Period” means the period (if any) specified as such in Schedule 5 to this Licence.
Annotations
Textual amendments
- F1
Word in Sch. 2 clause 4(1) substituted (1.10.2016) by The Energy (Transfer of Functions, Consequential Amendments and Revocation) Regulations 2016 (S.I. 2016/912), regs. 1(1), 23(6)(a)
- F2
Word in Sch. 2 clause 4(1) substituted (1.10.2016) by The Energy (Transfer of Functions, Consequential Amendments and Revocation) Regulations 2016 (S.I. 2016/912), regs. 1(1), 23(6)(b)
Commencement
- I1
Sch. 2 clause 4 in force at 17.7.2014, see reg. 1(1)