Schedule 9: Independent System Operator and Planner: transfers Schedule 21: Petroleum licences: amendments to model clauses
This Schedule amends all model clauses regarding the change of control of a Licensee in possession of any current and future Seaward Petroleum Production licences and all Landward Petroleum Production licences (but not Landward or Seaward Exploration Licences), to replace the Oil and Gas Authority (OGA) after the event powers with powers intended to apply before a change of control has taken place.
	It sets out that if a change of control of a petroleum Licensee is contemplated, the Licensee must apply in writing to the OGA for consent at least three months before the planned date of the change of control. Following receipt of an application the OGA may give unconditional or conditional consent or refuse consent to the proposed change of control. If the OGA proposes to grant consent subject to any condition, or to refuse consent, it must give the relevant company the opportunity to make representations and then consider any such representations. This Schedule also gives an indication of the kind of conditions that may be imposed and sets out that notification of the OGA’s decision and any conditions must be made in writing to the existing and proposed new Licensees. The OGA must generally decide an application within three months of receiving it, although may delay its decision by notifying the interested parties in writing.
	This Schedule also introduces amendments in respect of the OGA’s powers of revocation and partial revocation, again intended to replace the existing after the event powers with before the event powers.