Related Commentary  

552(1)  In this Chapter “oil licence”  means a UK oil licence or a foreign oil concession.

552(2)  In this Chapter “UK oil licence”  means a licence under–

(a)Part I of the Petroleum Act 1998 (“the 1998 Act”), or

(b)the Petroleum (Production) Act (Northern Ireland) 1964 (“the 1964 Act”),

authorising the winning of oil.

552(3)  In this Chapter “foreign oil concession”  means any right which–

(a)is a right to search for or win oil that exists in its natural condition in a place to which neither the 1998 Act nor the 1964 Act applies, and

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