LawgistThe Offshore Areas Mineral (Development and Regulation) Act
8Reservation of areas
(1) The Central Government may, from time to time, by notification in the Official Gazette, reserve any offshore area not already held under any operating right, for the purposes of the Central Government and, where it proposes to do so, it shall, by notification in the Official Gazette, specify the boundaries of such area and the mineral or minerals in respect of which such area shall be reserved.
(2) The Central Government may, from time to time, by notification in the Official Gazette, dereserve, any area reserved under sub-section (1), in the interest of development and regulation of the offshore mineral.
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GENERAL PROVISIONS FOR ACQUISITION OF OPERATING RIGHTS IN THE OFFSHORE AREAS
- 5 Reconnaissance, exploration or production to be under permit, licence or lease
- 6 Grant of operating right
- 7 Termination of operating right
- 8 Reservation of areas
- 9 Power of close areas
- 10 Availability of areas for grant of permit, licence or lease
- 11 Grant of reconnaissance permit
- 12 Grant of exploration licence
- 13 Grant of production lease
- 14 Period of commencement of operating rights
- 15 Power of Central Government to authorise survey, research and scientific investigations in areas covered under operating rights
- 16 Royalty
- 17 Fixed rent
- 18 Contribution towards International Seabed Authority
- 19 Safety of persons and property
- 20 Prevention and control of pollution and protection of marine environment
- 21 Power of Central Government and administering authority to issue directions
