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National Environmental Management Act, 1998 (Act No. 107 of 1998)

Regulations

Financial Provisioning Regulations, 2015

Chapter 4 : Transitional Arrangements

17A. Extension of transitional period for holders of offshore oil or gas exploration or production rights

 

Notwithstanding the provisions of regulation 17, and the extension of the transitional period published under Government Notice No. 1314 in Government Gazette 40371 of 26 October 2016, a holder of an offshore oil or gas exploration or production right, who applied for such right prior to 20 November 2015, regardless when the right was obtained—

(a) must by no later than 19 February 2024 comply with these Regulations; and
(b) shall, until 19 February 2024, be regarded as having complied with the provisions of these Regulations if such holder has complied with the provisions and arrangements regarding financial provisioning, approved as part of the right issued in terms of the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002).

 

[Regulation 17A inserted by Notice No. R. 452, GG 41584, dated 20 April 2018]