Petroleum Authority of Brunei Darussalam Act · s 29

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s 29Agreements

(1)

On the appointed day, the Company shall cease to have any authority or right as a holder of mineral rights to negotiate, conclude and implement any petroleum mining Agreement, including, without limitation, any Company petroleum mining Agreement:

Provided that the Company shall continue to have such rights and obligations under a Company petroleum mining Agreement insofar as they relate to excluded property or excluded liabilities.

(2)

The Company shall, on and from the appointed day, cease to be a

State Party under or for the purposes of the Petroleum Mining Act

(Chapter 44).