Petroleum (Submerged Lands) Act 1982

Where, at the expiration of the period specified in an instrument under section 46(1), only one application has been made under that subsection in respect of the block specified in the instrument, the Minister may reject the application or may, by instrument in writing served on the applicant, inform him that he is prepared to grant him a licence in respect of that block.

Where, at the expiration of the period specified in an instrument under section 46(1), two or more applications have been made under that subsection in respect of the block 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 in his application an amount, or a rate of royalty, that he would be prepared to pay that is not less than the amount, or the rate of royalty, specified in the application of any other applicant whose application has not been rejected, inform the applicant—

that the Minister is prepared to grant to the applicant a licence in respect of that block; and

that the applicant will be required to pay—

the amount specified in the application; or

royalty at the rate specified in the application; or

royalty at the rate specified in the application and the amount specified in the instrument under section 46(1), as the case may be.

An instrument under any of the preceding provisions of this section shall contain—

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

a statement of the balance of the amount, if any, that the applicant will be required to pay in respect of the grant of the licence to him; and

a statement to the effect that the application will lapse—

if the applicant does not make a request under subsection (6); or

in a case where the instrument contains a statement referred to in paragraph (b)—if the applicant does not pay the balance of the amount referred to in that statement or enter into an agreement under section 108 in respect of that balance.

An applicant on whom there has been served an instrument under any of the preceding provisions of this section may, within a period of three months after the date of service of the instrument on him, or within such further period, not exceeding three months, as the Minister, on application in writing served on him before the expiration of the firstmentioned period of three months, allows—

by instrument in writing served on the Minister, request the Minister to grant to him the licence; and

if the firstmentioned instrument contains a statement of the balance of an amount that the applicant will be required to pay in respect of the grant of the licence to him—pay that balance or enter into an agreement under section 108 in respect of that balance.

Where an applicant on whom there has been served an instrument under subsection (1) or (2)—

has not made a request under subsection (6); or

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 him—has not paid that balance or entered into an agreement under section 108 in respect of that balance, within the period applicable under subsection (6), the application lapses upon the expiration of that period.

Where the application of an applicant on whom there has been served an instrument under subsection (2) lapses as provided by subsection (7), subsection (2) applies in respect of the application or applications, if any, then remaining unrejected.