14. Period of commencement of operating rights
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:—
(a)
reconnaissance permitsix months;
[(aa) composite licence one year;]
(b)
exploration licenceone year; and
(c)
production leasetwo years.
Amendment notes (1)
- Ins w.e.f. 17-8-2023 . Ins. by Act 17 of 2023, s. 12, (w.e.f. 17-8-2023).