§ 260.001 - Purpose and scope.

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The purpose of this part 260 is to implement OCSLA, 43 U.S.C. 1331 et seq., as amended, by providing regulations to foster competition including, but not limited to, regulations to prohibit joint bidding for development rights by certain types of joint ventures; the implementation of alternative bidding systems (including suspension of royalties for a period, volume, or value of production); and the establishment of diligence requirements for Federal OCS leases issued under the OCSLA.

                    
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