Paragraph 5 Surrender during Initial Term ...F4I1
United Kingdom
This clause shall apply where an Early Surrender Area and an Early Surrender Period are specified.
No later than one month before the expiry of the Early Surrender Period, the Licensee F1may give notice in writing to the F2OGA indicating—
that he will determine this licence in relation to a part of the Licensed Area which, when taken together with any one or more areas previously surrendered in accordance with clause 10, is no less than the Early Surrender Area; and
the date no later than the expiry of the Early Surrender Period on which the surrender of that part of the Licensed Area shall take effect.
This licence shall automatically cease and determine on the expiry of the Early Surrender Period unless—
the Licensee has given notice in accordance with paragraph (2); or
at the request of the Licensee, the OGA has directed that the licence shall continue without such notice having been given.
Annotations
Textual amendments
- F1
Words in Sch. clause 5(2) substituted (20.1.2010) by The Petroleum Licensing (Amendment) Regulations 2009 (S.I. 2009/3283), regs. 1, 4(5)(a)
- F2
Word in Sch. clause 5 substituted (1.10.2016) by The Energy (Transfer of Functions, Consequential Amendments and Revocation) Regulations 2016 (S.I. 2016/912), regs. 1(1), 13(7)
- F3
Sch. clause 5(3) substituted (20.1.2010) by The Petroleum Licensing (Amendment) Regulations 2009 (S.I. 2009/3283), regs. 1, 4(5)(b)
- F4
Words in Sch. clause 5 heading omitted (15.9.2017) by virtue of The Petroleum and Offshore Gas Storage and Unloading Licensing (Amendment) Regulations 2017 (S.I. 2017/855), regs. 1, 2(9) (with reg. 2(17))
Commencement
- I1
Sch. clause 5 in force at 6.4.2008, see reg. 1(1)