THE HYDROCARBONS (PROSPECTING, EXPLORATION ... - PGS

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26 Powers of the Court for seizure and confiscation. 26. The Court may order that any quantity of hydrocarbons that has been obtained by committing an offence shall be seized, as well as any machine, equipment, automobile, ship or aircraft and also any construction that has been used for committing the offence shall be confiscated. Where the seizure of hydrocarbons is not possible, the Court may order that the person committing the offence shall pay a fine to at least the value of the quantity of the hydrocarbons that have been unlawfully obtained. Transfer of licence or assignment of rights arising from a licence. 27.-(1) No licensee may transfer a licence or assign the rights arising from a licence to any other entity, unless he has the consent of the Council of Ministers, which may be granted if- (a) it does not endanger national security; (b) the Council of Ministers is satisfied that an entity to whom the licence would be transferred or the rights arising from a licence would be assigned has sufficient technical knowledge, experience and financial resources to carry out the activities of prospecting, exploration and exploitation of hydrocarbons; (c) the entity to which the licence would be transferred or the rights arising from a licence would be assigned undertakes to comply with any additional terms and conditions that the Council of Ministers considers necessary to impose. (2) Any licensee that transfers a licence or assigns the rights arising from a licence without the approval of the Council of Ministers commits an offence and on conviction, shall be liable to imprisonment for a term not exceeding twelve months or to a fine –THIS IS NOT AN OFFICIAL TRANSLATION–
27 not exceeding five hundred thousand Cyprus pounds or to both such imprisonment and fine. Control of a licensee by a third country or national of a third country. 28.-(1) No entity may, after the grant of a licence to the entity, come under the direct or indirect control of a third country, or national of a third country, without the prior approval of the Council of Ministers. (2) Any licensee that comes under the direct or indirect control of a third country or national of a third country without the prior approval of the Council of Ministers, commits an offence and on conviction, shall be liable to imprisonment for a term not exceeding twelve months or to a fine not exceeding five hundred thousand Cyprus pounds or to both such imprisonment and fine. Refusal of granting a licence to an entity that is controlled by a third country or a national of a third country. 29.-(1) The entities may inform and grant information to the Minister or any authorised public officer who is responsible for the collection of such information, where the entities encounter any general difficulty, de jure or de facto, in relation to their access to activities of prospecting, exploration and exploitation of hydrocarbons as well as the exercise of such activities in third countries. (2) The Minister shall inform the Commission of any general difficulty, de jure or de facto, encountered by the entities and which relates to the access to the activities mentioned in subsection (1) as well as the exercise of these activities. (3) The Council of Ministers may, after an authorisation granted by the Council, refuse the grant of a licence to an entity which is effectively controlled by a third country or by a national of a third country when the third country does not grant to the entities of the Republic or to entities of the Member States, treatment comparable –THIS IS NOT AN OFFICIAL TRANSLATION–
Page 1 and 2: THE HYDROCARBONS (PROSPECTING, EXPL
Page 3 and 4: 3 hydrocarbons in a geographical ar
Page 5 and 6: 5 Granting of licences and conditio
Page 7 and 8: 7 Ministers ensures that the licens
Page 9 and 10: 9 (d) the Permanent Secretary of th
Page 11 and 12: 11 (f) the safety measures that hav
Page 13 and 14: 13 Committee, with a procedure deci
Page 15 and 16: 15 Terms and conditions for grantin
Page 17 and 18: 17 Contract between the government
Page 19 and 20: 19 necessary information for the ex
Page 21 and 22: 21 138 (Ι) of 2001 37(Ι) of 2003.
Page 23 and 24: 23 (b) before a Court; Section 44 3
Page 25: 25 Prospecting, exploration or expl
Page 29 and 30: 29 obligations of the authorised pu
Page 31 and 32: 31 District Court. 14 of 1960 50 of

THE HYDROCARBONS (PROSPECTING, EXPLORATION ... - PGS

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