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Paragraph 3 Term of licence

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

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

This licence unless sooner determined under or consequent upon any of the provisions hereof shall be and continue in force for the term of five years next after [ ] (hereinafter called “the initial term”); but if the terms and conditions hereof are duly performed and observed, it may be extended for a further period or periods under clause 4.