Petroleum Authority of Brunei Darussalam Act · 2021 Revised Edition · Part · Transfer of Company Petroleum
27. Company
Official textFrom Attorney General's Chambers, unchanged
On the appointed day, the petroleum regulatory undertaking of the
Company and the mineral rights of the Company shall be transferred to and shall vest in the Authority under this Act.
Company
"Company" means the Brunei National Petroleum Company Sendirian Berhad incorporated by the Brunei National Petroleum Company Sendirian Berhad Order, 2002 (S 612002);
Terms defined in s 2
Authority
Defined · s 2"Authority" means the Petroleum Authority of Brunei Darussalam established by section 3;
Company
Defined · s 2"Company" means the Brunei National Petroleum Company Sendirian Berhad incorporated by the Brunei National Petroleum Company Sendirian Berhad Order, 2002 (S 612002);
mineral rights of the Company
Defined · s 2"mineral rights of the Company" means the mineral rights in respect of the areas granted to the Company pursuant to section 3 of the Brunei National Petroleum company Sendirian Berhad Order, 2002 (S 612002) immediately before the appointed day;
petroleum regulatory undertaking of the Company
Defined · s 2"petroleum regulatory undertaking of the Company" means - (a) all property and all liabilities of the Company (including all existing property and all existing liabilities and all liabilities arising after the appointed day in respect of the property and liabilities of the Company transferred to the Authority) acquired under, arising from or relating to the Company petroleum mining Agreements; and (b) such other property and liabilities of the Company as the Minister may determine. other than the excluded property and the excluded liabilities of the Company;