Continuance of licence after the second termU.K.
5.—(1) At any time not later than three months before the expiry of the second term the Licensee paying the payments and royalties hereinafter provided and observing and performing the terms and conditions herein contained may give notice in writing to the Minister that he desires this licence to continue in force thereafter.
(2) If such notice is given this licence shall continue in force after the expiry of the second term as provided by the following paragraphs of this clause in the event that before that date—
(a)the Minister has in pursuance of clause 15(4) of this licence approved a programme submitted to him in pursuance of clause 15(2) and such approval is still in force at that date,
(b)the Minister has served a programme on the Licensee in pursuance of clause 15(6) of this licence and such programme is still in force at that date, or
(c)the Minister has with a view to securing the maximum economic recovery of petroleum so directed in writing.
(3) Where the Minister has given a direction extending the second term of this licence in pursuance of paragraph (2)(c) of this clause he may, on notice in writing being given to him by the Licensee not later than three months before the expiry of such extension or any further extension that he desires the licence to continue in force thereafter, give a further direction that this licence shall so continue in force.
(4) Where this licence continues in force by virtue of paragraph (2)(a) or (b) of this clause it shall, subject to the provisions of clause 3 of this licence, so continue in force for a further period of twenty years after the expiry of the second term.
(5) Where this licence continues in force by virtue of a direction given in pursuance of paragraph (2)(c) or further direction given in pursuance of paragraph (3) of this clause it shall, subject to the provisions of clause 3 hereof, continue in force for such further period after the expiry of the second term as the Minister may prescribe provided that in any event the period for which this licence continues in force after the expiry of the second term by virtue of any such directions shall not in aggregate exceed twenty years.
(6) A direction given by the Minister in pursuance of paragraph (2)(c) of this clause or further direction given by the Minister in pursuance of paragraph (3) of this clause may be given subject to such conditions as he may specify and (without prejudice to the generality of the foregoing) such conditions may, subject to the provisions of paragraph (5) of this clause, include conditions as to the duration of the extension or further extension (as the case may be) of the second term.
Commencement Information
I1Sch. 3 clause 5 in force at 30.6.1995, see reg. 1