OpenLegislation

Paragraph 7 Payment of consideration for licence

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)

The Licensee shall make to the Minister the payment specified in Schedule 2 to this licence as consideration for the grant of this licence.

(2)

The Licensee shall not by reason of the determination or partial termination of this licence, or the surrender of any part of the licensed area, be entitled to be repaid all or any part of the sum payable to the Minister hereunder.