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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 30 - Mineral Resources |
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Chapter V - Bureau of Ocean Energy Management, Department of the Interior |
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SubChapter B - Offshore |
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Part 581 - Leasing of Minerals Other Than Oil, Gas, and Sulphur in the Outer Continental Shelf |
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Subpart E - Termination of Leases |
§ 581.46 - Relinquishment of leases or parts of leases.
Latest version.
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§ 581.46 Relinquishment of leases or parts of leases.
(a) A lease or any part thereof may be surrendered by the record title holder by filing a written relinquishment with the Director. A relinquishment shall take effect on the date it is filed subject to the continued obligation of the lessee and the surety to:
(1) Make all payments due, including any accrued rentals and royalties; and
(2) Abandon all operations, remove all facilities, and clear the land to be relinquished to the satisfaction of the Director.
(b) Upon relinquishment of a lease, the data and information submitted under the lease will no longer be held confidential and will be available to the public.