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Petroleum and Other Minerals Development Act, 1960
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Undertaking by Minister to grant petroleum lease.

10.—(1) The Minister may enter into an undertaking to grant a petroleum lease to take effect from such date, as may be specified in the petroleum lease.

(2) Every such undertaking as is mentioned in subsection (1) of this section shall be in such form as the Minister, with the consent of the Minister for Finance, shall determine and may specify the terms and conditions (if any) upon which the petroleum lease which is the subject of the undertaking shall be granted.

(3) Whenever the Minister enters into an undertaking to grant a petroleum lease under this section, it shall be lawful for the Minister to carry out the undertaking in accordance with the terms thereof.