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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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