Petroleum Authority of Brunei Darussalam Act · 2021 Revised Edition · Part · Transfer of Company Petroleum
29. Agreements
Official textFrom Attorney General's Chambers, unchanged
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.
Company
"Company" means the Brunei National Petroleum Company Sendirian Berhad incorporated by the Brunei National Petroleum Company Sendirian Berhad Order, 2002 (S 612002);
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
State Party
"State Party" has the same meaning assigned to it in the Petroleum Mining Act;
(Chapter 44).
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);
excluded liabilities
Defined · s 2"excluded liabilities" means - (a) in relation to the Company, such existing liabilities of the Company as may be excluded from the petroleum regulatory undertaking of the Company under section 30(1); and • Petroleum Autl~ority of Brune i Darussalun~…
mineral rights
Defined · s 2"mineral rights" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
petroleum
Defined · s 2"petroleum" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
petroleum mining Agreement
Defined · s 2"petroleum mining Agreement" has the same meaning assigned to it in section 2 of the Petroleum Mining Act;
property
Defined · s 2"property" means property, assets, and rights of every description (whether present or future. and, actual or contingent) wheresoever situated, including, without limitation. land. buildings, facilities, equipment, documents (incl-uding accounting records), interests, benefits, privileges and powers of every description;
State Party
Defined · s 2"State Party" has the same meaning assigned to it in the Petroleum Mining Act;