Petroleum and Submarine Pipe-lines Act 1975

14 (1) In clause 31 of the relevant clauses—

(a) in paragraph (2)(a) for the words " consideration specified in Schedule 2 hereto " there shall be substituted the words " payments mentioned in clause 8(1) of this licence "; and

(b) in paragraph (2)(g) the words " to be a citizen of the United Kingdom and Colonies or to be resident in the United Kingdom or " and the word " ceasing " after those words shall be omitted.

(2) In the said clause 31, at the end of paragraph (2) there shall be inserted the following words: —

(h) any breach of a condition subject to which the Minister gave his approval in pursuance of clause 30(2) of this licence ;

(i) any breach of clause 30(4) of this licence ;

and where two or more persons are the Licensee any reference to the Licensee in sub-paragraphs (c) to (g) of this paragraph is a reference to any of those persons.

(3) In the said clause 31, after paragraph (2) there shall be inserted the following paragraphs: —

(3) The Minister may revoke this licence, with the like consequences as are mentioned in paragraph (1) of this clause, if—

(a) the Licensee is a company ; and

(b) there is a change in the control of the Licensee ; and

(c) the Minister serves notice in writing on the Licensee stating that the Minister proposes to revoke this licence in pursuance of this paragraph unless such a further change in the control of the Licensee as is specified in the notice takes place within the period of three months beginning with the date of service of the notice ; and

(d) that further change does not take place within that period.

(4) There is a change in the control of the Licensee for the purposes of paragraph (3)(b) of this clause whenever a person has control of the Licensee who did not have control of the Licensee when this licence was granted ; and subsections (2) and (4) to (6) of section 302 of the Income and Corporation Taxes Act 1970 shall apply, for the purpose of determining whether for the purposes of this paragraph a person has or had control of the Licensee, with the modifications specified in clause 30(3) of this licence.

(5) Where two or more persons are the Licensee and any of them is a company, paragraphs (3) and (4) of this clause shall have effect as if—

(a) sub-paragraph (a) of paragraph (3) were omitted ;

(b) in sub-paragraph (b) of that paragraph, after the word " of" there were inserted the words " any company included among the persons who together constitute "; and

(c) for the word " Licensee " in any other provision of those paragraphs there were substituted the word " company.