Canada–Newfoundland and Labrador Atlantic Accord Implementation and Offshore Renewable Energy Management Act

Marginal note:Notice of disposition of any interest

• 103 (1) If an interest holder of an interest or any share in an interest enters into an agreement or arrangement that is or may result in a transfer, assignment or other disposition of the interest or share, the interest holder shall give notice of such agreement or arrangement to the Regulator, together with a summary of its terms and conditions or, on the request of the Regulator, a copy of the agreement or arrangement.

• Marginal note:Conditions of transfer

  (2) A submerged land licence shall only be transferred, assigned or otherwise disposed of under subsection (1) if the Regulator is satisfied that the terms and conditions of the licence can be met following the transfer, assignment or other disposition.