Section 14
Period of commencement of operating rights.
The Offshore Areas Mineral (Development and Regulation) Act, 2002
About this Act
An Act to provide for development and regulation of mineral resources in the territorial waters, continental shelf, exclusive economic zone and other maritime zones of India and to provide for matters connected therewith or incidental thereto.
A holder of operating right shall commence
operation within the period specified below after the grant of the operating right and shall thereafter
conduct such operation in proper, skilful and workman-like manner, as follows:--
table@table@@thead@@th@@/th@@/thead@@tbody@@tr@@td@(a) reconnaissance permit@/td@@td@six months;@/td@@/tr@@tr@@td@1[(aa) composite licence @/td@@td@one year;]@/td@@/tr@@tr@@td@(b) exploration licence@/td@@td@one year; and @/td@@/tr@@tr@@td@(c) production lease@/td@@td@two years.@/td@@/tr@@/tbody@@/table@/table
table@table@@thead@@th@@/th@@/thead@@tbody@@tr@@td@(a) reconnaissance permit@/td@@td@six months;@/td@@/tr@@tr@@td@1[(aa) composite licence @/td@@td@one year;]@/td@@/tr@@tr@@td@(b) exploration licence@/td@@td@one year; and @/td@@/tr@@tr@@td@(c) production lease@/td@@td@two years.@/td@@/tr@@/tbody@@/table@/table
Notes
1. Ins. by Act 17 of 2023, s. 12, (w.e.f. 17-8-2023).