Law library · Sierra Leone · Oil Agreement (1979)(Ratification) Act, 1982
Section 17: ASSIGNMENT
Status not yet checkedOil Agreement (1979)(Ratification) Act, 1982, Sierra Leone
)The Companies shall not assign this Agreement or any
exploration licence or oil mining lease issued pursuant to this
Agreement without the previous consent in writing of the Minis
ter of Mines (which consent shal! not be unreasonably
withheld), except where the assignment is to another Company
which is itself a member of the group or groups of which the
Companies or any of the Companies mining them re members :
provided that on any such assignmcnt the Minister may require
the assignors and for the assignces at their cxpense to exccute
a deed of covenant to observe and perform the covenants
and conditions on the part of the Companics contained in this
Agreement or in eny of the licences or leases granted here
under. Subject to such limitation on assignment, the
assignment of any oil exploration licence or oil mining lease
or part thereof issued pursuant to this Agreement shall carry
with it the rights, privileges and benefits set out in this
Agreement.
(ü) No assignment cf this Agreement shall release the Companics
from any of the obligations assumed by it hereunder except
where all such obligations have been fulfilled by the assignee.
(ii) The Companies shall if it becomes necessary bring in qualified
partners in this concession provided however that the prior
written consent of the Government shall be obtained. Such
consent however shall not be unreasonably withhcld and shal
be given within a period of thirty (30) days from the receipt
of the request by the Companies.
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