Grant of licence on request
50 Grant of licence on request
Where an applicant on whom there has been served an instrument under section 49—
has made a request under section 49(6); and
if the instrument contains a statement of the balance of an amount that the applicant will be required to pay in respect of the grant of a licence to the applicant—has paid that balance or entered into an agreement under section 109 in respect of that balance; and
if the Minister has informed the applicant that the applicant will be required to lodge a security as mentioned in section 49(4), has lodged that security with the Minister;
within the period applicable under section 49(6), the Minister shall grant to the applicant a production licence for petroleum in respect of the block specified in the instrument.
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