Petroleum and Other Minerals Development Act, 1960

Revocation of licences under Part II.

22.—(1) In this section “licence” means a licence being—

(a) an exploration licence,

(b) a petroleum prospecting licence, or

(c) a reserved area licence.

(2) The Minister may revoke a licence if he is satisfied that any of the conditions attached to it have been contravened.

(3) A licence shall terminate, if the licensee thereunder is an individual, on his bankruptcy or, if the licensee thereunder is a body corporate, on its dissolution.

(4) On the revocation or termination of a licence under this section—

(a) all rights and powers exercisable by the licensee shall cease and determine but without prejudice to any obligation or liability imposed on the licensee by this Part or by the licence;

(b) where the licensee paid any consideration for the grant of the licence, he shall not be entitled to be repaid such consideration or any part thereof.