# The Petroleum Licensing (Production) (Seaward Areas) Regulations 2008, Paragraph 5: Surrender during Initial Term ...

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

(1) This clause shall apply where an Early Surrender Area and an Early Surrender Period are specified.
(2) No later than one month before the expiry of the Early Surrender Period, the Licensee may give notice in writing to the OGA indicating—
(a) 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
(b) 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.
(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 OGA has directed that the licence shall continue without such notice having been given.

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Source: https://www.legislation.gov.uk/uksi/2008/225/schedule/paragraph/5 (the official version)
Page: https://openlegislation.uk/petroleum-licensing-production-seaward-areas-regulations-2008/schedule/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.