National Environmental Management Act, 1998 (Act No. 107 of 1998)RegulationsFinancial Provisioning Regulations, 2015Chapter 4 : Transitional Arrangements17A. Extension of transitional period for holders of offshore exploration and production rights |
[Regulation 17A heading substituted by section 2 of Notice No. 4296, GG50059, dated 1 February 2024]
Notwithstanding the provisions of regulaton 17, and the extension of the transitional period published in Government Notice No. R. 452, published in Government Gazette No. 41584 of 20 April 2018, a holder of an offshore exploration or production right, who applied for such right prior to 20 November 2015, regardless of when the right was obtained—
| (a) | must by no later than a date published in the Government Gazette comply with these Regulations; and |
| (b) | shall, until such date published in the Government Gazette contemplated in paragraph (a), be regarded as complying with the provisions of these Regulations, if such holder complies 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 substituted by section 2 of Notice No. 4296, GG50059, dated 1 February 2024]