OAM Act 6Chapter II · General Provisions for Acquisition of Operating Rights in the Offshore Areas
Section 6 · Grant of operating right
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The Central Government shall not grant an operating right to any
person unless such person--
(a) is an Indian national, or a company as defined in 1[clause (20) of section 2 of the Companies Act, 2013 (18 of 2013)]; and
(b) satisfies such conditions as may be prescribed:
2[Provided that no exploration licence, or composite licence, or production lease shall be granted for an area to any person other than the Government, a Government company or a corporation, in respect of any minerals specified in Part B of the First Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), subject to such conditions and manner as may be prescribed, where the grade of such mineral in such area is equal to or greater than such threshold value as the Central Government may, by notification in the Official Gazette, specify:
Provided further that no production lease shall be granted in respect of any part of the offshore area, unless the existence of mineral resources in such offshore area has been adequately established in accordance with such parameters as may be prescribed.]
(a) is an Indian national, or a company as defined in 1[clause (20) of section 2 of the Companies Act, 2013 (18 of 2013)]; and
(b) satisfies such conditions as may be prescribed:
2[Provided that no exploration licence, or composite licence, or production lease shall be granted for an area to any person other than the Government, a Government company or a corporation, in respect of any minerals specified in Part B of the First Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957), subject to such conditions and manner as may be prescribed, where the grade of such mineral in such area is equal to or greater than such threshold value as the Central Government may, by notification in the Official Gazette, specify:
Provided further that no production lease shall be granted in respect of any part of the offshore area, unless the existence of mineral resources in such offshore area has been adequately established in accordance with such parameters as may be prescribed.]
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