The Petroleum (Current Model Clauses) Order 1999

Power of revocation

If and whenever the minimum annual payments and royalties hereby reserved or any part thereof shall be in arrear for two months next after any of the days whereon the same ought to have been paid or if there shall be any breach or non-observance by the Licensee of any of the terms and conditions herein contained or if the Licensee shall become bankrupt or make or enter into any arrangement or composition with his creditors or, if, where the Licensee is a company, a receiver shall be appointed or the company shall enter into liquidation whether compulsory or voluntary (except a voluntary liquidation of a solvent company for the purpose of reconstruction) or if the Licensee shall fail to perform and observe the terms and conditions of any development scheme prepared in accordance with the provisions of clause ... ... ... ... hereof (the marginal note whereof is “Unit Development”), then and in any such case the Minister may revoke this licence and thereupon the same and all the rights hereby granted shall cease and determine but subject nevertheless and without prejudice to any obligation or liability imposed by or incurred under the terms and conditions hereof.