48. Regulations

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Minister may make regulations in respect of any other matter which is required by this Act to be prescribed or in respect of which regulations are authorized or required to be made.

(2)

Without prejudice to the generality of the powers conferred by subsection (1), regulations may be made in respect of any or all of the following matters:-

(a)

the procedure to be followed in relation to data licensing;

(b)

the form of application for an Exploration Licence, a Development Licence and a Unit Development

Licence and the format of such Licences to be issued under the Act;

(c)

the procedure for calling of proposals and selecting of contractors for the conduct of petroleum operations in respect of defined exploration blocks;

(d)

the procedure to be followed when entering into

Petroleum Resources Agreements and Joint Study

Agreements and to specify the criteria to be included in the Petroleum Resources Agreement and the Joint

Study Agreement;

(e)

the summary of estimated fiscal projections at the outset of the project for the information of the

Minister and the Authority and for monitoring over the lifetime of the development;

(f)

the specifications for the scope of –

(i)

geophysical operations and surveys;

(ii)

drilling operations; and

(iii)

diving activities, required to be carried out prior to the issue of the respective licences under the Act;

(g)

the specifications for the matters –

(i)

to be included in the programme of work and the Unit Development Plan;

(ii)

relating to the qualifications of non-officials of the Authority, Board members and the

Director-General, of the Authority;

(iii)

relating to environmental protection and occupational health and safety as are applicable in relation to the conduct of petroleum operations; and

(iv)

to be included in relation to local content.

(3)

Every regulation made by the Minister shall be published in the Gazette and shall come into operation on the date of such publication or on such later date as may be specified in the regulation.

(4)

Every regulation made by the Minister shall, within three months after its publication in the Gazette, be brought before Parliament for approval. Any such regulation that is not so approved shall be deemed to be rescinded as from the date of disapproval, but without prejudice to anything duly done thereunder.

(5)

Notification of the date on which a regulation is deemed to be rescinded shall be published in the Gazette.

Read on from s 49