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Paragraph 4 Right of Licensee to determine licence or surrender part of licensed area

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • Sch. 3 incorporated in part (with modifications) (temp.) by Petroleum Act 1998 s. 5 Sch. 1 para. 25-27
(1)

Without prejudice to any obligation or liability imposed by or incurred under the terms and conditions hereof, the Licensee may, at any time, determine this licence, or, if the licensed area comprises more than one block, surrender any block, by giving six months' written notice to that effect to the Minister.

Provided that the Minister, if he thinks fit, may accept a shorter period of notice.

(2)

A notice given pursuant to paragraph (1) of this clause may be cancelled by a further notice in writing given to the Minister not less than one month before the expiration of the notice.