Petroleum (Submerged Lands) Act 1982

Where, at the expiration of the period specified in an instrument under section 22(1), only one application has been made under that subsection in respect of the block or blocks specified in the instrument, the Minister may reject the application or may, by instrument in writing served on the applicant, inform the applicant that he is prepared to grant to him a permit in respect of that block or those blocks.

Where, at the expiration of the period specified in an instrument under section 22(1), two or more applications have been made under that subsection in respect of the block or blocks specified in the instrument, the Minister may reject any or all of the applications and, if he does not reject all of the applications, may—

if only one application remains unrejected—by instrument in writing served on the applicant; or

if two or more applications remain unrejected—by instrument in writing served on the applicant, or on one of the applicants, whose application has not been rejected and who has specified as the amount that he is prepared to pay in respect of the grant of a permit to him an amount that is not less than the amount specified by any other applicant whose application has not been rejected, inform him that he is prepared to grant to him a permit in respect of that block or those blocks.

An instrument under this section shall contain—

a summary of the conditions subject to which the permit is to be granted; and

a statement to the effect that the application will lapse if the applicant does not—

make a request under section 25(1); and

pay the balance of the amount to be paid in respect of the grant of the permit to him or enter into an agreement under section 108 in respect of that balance.