Canada–Newfoundland and Labrador Offshore Area Registration Regulations

Version of section 12 from 2006-03-22 to 2007-12-30:

  •  (1) An interest may be surrendered with respect to all or any portion of the Newfoundland offshore area subject to the interest by sending a notice of surrender to the Registrar describing the Newfoundland offshore area in respect of which the interest is surrendered.

  • (2) A surrender of an interest in respect of all the Newfoundland offshore area subject to the interest shall be executed by the interest owner or, where the interest owner consists of more than one interest holder, by each holder.

  • (3) A surrender of an interest in respect of a portion of the Newfoundland offshore area subject to the interest shall be executed by the interest owner or by the holder of each share in the interest held in respect of that portion.

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