As enacted

Contents

Petroleum Resources Act 2021 · As enacted · Part IX · General Provisions

50. Repeals, savings and transitional provisions

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

(1)

The Petroleum Resources Act, No. 26 of 2003 is hereby repealed.

(2)

The Director-General who, and the Authority which, is identified and were functioning as such in terms of subsection (5) of section 5 and section 20 of the Petroleum

Resources Act, No. 26 of 2003, prior to the date of commencement of this Act shall from and after the date of commencement of this Act, be deemed to continue to be the –

(a)

Director-General appointed in terms of section 30

of this Act; and

(b)

the Authority established in terms of section 3 of this Act.

(3)

Notwithstanding the repeal, of the aforesaid Act –

(a)

all movable and immovable property vested in the Authority in terms of the Petroleum

Resources Act, No. 26 of 2003, on the day preceding the date of commencement of this Act shall with effect from the date of commencement of this Act, vest in the Authority established by section 3 of this Act;

(b)

all contracts, Memorandums of Understanding and Agreement entered into by or with the

Authority in terms of the Petroleum Resources

Act, No. 26 of 2003, subsisting on the date of commencement of this Act, shall, with effect from the date of commencement of this Act, be deemed to be contracts, Memorandums of Understanding and agreements entered into by or with the

Authority established by section 3 of this Act;

(c)

all actions and proceedings instituted by or against the Authority in terms of the Petroleum

Resources Act, No. 26 of 2003, and pending on the date of commencement of this Act, shall, with effect from the date of commencement of this Act, be deemed to be actions and proceedings as the case may be, instituted by or against the Authority established by section 3

of this Act and may accordingly be continued and completed;

(d)

all persons who were members, officers and employees of the Authority in terms of the

Petroleum Resources Act, No. 26 of 2003, and holding office on the day immediately preceding the date of commencement of this Act, shall, with effect from the date of commencement of this Act, be deemed to continue to be members, officers and employees of the Authority under this Act;

(e)

all judgments and orders made in favour of or against the Authority in terms of the Petroleum

Resources Act, No. 26 of 2003, and remaining unsatisfied on the day immediately preceding the date of commencement of this Act, shall, with effect from the date of commencement of this Act, be deemed to be judgments and orders made in favour of or against the Authority established by section 3 of this Act and be enforced accordingly;

(f)

all service providers providing goods and services to any contractor under the terms of a licence issued by the Authority in terms of the

Petroleum Resources Act, No. 26 of 2003, and who are on the day immediately preceding the date of commencement of this Act, continuing to provide such goods and services, shall, with effect from the date of commencement of this

Act, be deemed to be service providers for the purposes of section 23 of this Act; and

(g)

all interests, rights, assets, obligations, debts and liabilities of the Authority in terms of the

Petroleum Resources Act, No. 26 of 2003, on the day immediately preceding the date of commencement of this Act, shall be deemed with effect from the date of commencement of this

Act, to be interests, rights, assets, obligations, debts and liabilities of the Authority.

(4)

All licences issued, regulations made in terms of the

Petroleum Resources Act, No. 26 of 2003, and in force on the day immediately preceding the date of commencement of this Act and all data sales concluded, surveys conducted, petroleum operations and connected matters and all operational arrangements carried out, relating to each licence or agreement as the case may be, shall, with effect from the date of commencement of this Act -

(a)

be deemed to continue to be valid and effectual, unless expressly repealed or if they become inconsistent with any new licences issued, agreements entered into, or regulations made under this Act. In the case of an inconsistency, the new licences, agreements, or regulations as the case may be, shall prevail;

(b)

be deemed to continue to be valid and effective as if they were concluded, conducted, or carried out under this Act, unless express provision is made to the contrary.

Read on from s 51