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(1)Any rights exercisable by the United Kingdom outside territorial waters with respect to the sea bed and subsoil and their natural resources, except so far as they are exercisable in relation to coal, are hereby vested in Her Majesty.
(2)In relation to any coal with respect to which those rights are exercisable the M1Coal Industry Nationalisation Act 1946 shall apply as it applies in relation to coal in Great Britain, but with the modification that the [F1British Coal Corporation] shall not engage in any operations for the purpose of working or getting the coal without the consent of [F2the Secretary of State], which may be given on such terms and subject to such conditions as he thinks fit.
(3)In relation to any petroleum with respect to which those rights are exercisable sections 2 and 6 of the M2Petroleum (Production) Act 1934 (which relate to the granting of licences to search and bore for, and get, petroleum) shall apply as they apply in relation to petroleum in Great Britain, and section 3 of that Act (which enables persons holding licences under that Act to acquire ancillary rights) and section 5 of that Act (which makes provision as to receipts and expenditure under that Act) shall have effect as if this subsection were part of that Act.
F3(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4
(6)The general duty of [F2the Secretary of State] of securing the effective and co-ordinated development of such resources in Great Britain as are mentioned in section 1(1) of the M3Ministry of Fuel and Power Act 1945 shall extend to any such resources outside Great Britain with respect to which the said rights are exercisable.
(7)Her Majesty may from time to time by Order in Council designate any area as an area within which the rights mentioned in subsection (1) of this section are exercisable, and any area so designated is in this Act referred to as a designated area [F5; and the power to make Orders under this subsection shall include power to revoke Orders for the purpose of consolidating them.]
(8)In this section “coal” has the same meaning as in the M4Coal Industry Nationalisation Act 1946 and “petroleum” has the same meaning as in the Petroleum (Production) Act 1934.
Textual Amendments
F1Words substituted by Coal Industry Act 1987 (c. 3, SIF 86), s. 1(1)(2), Sch. 1 para. 10
F2Words substituted by virtue of S.I. 1969/1498, arts. 2(1), 5(6) and 1970/1537, arts. 2(2), 7(4).
F3S. 1(4) repealed (E.W.S.)(30.11.1993) by Offshore Safety Act 1992 (c. 15), ss. 3(1)(a), 7(2), Sch.2; S.I. 1993/2406, art.2
F5Words inserted by Oil and Gas (Enterprise) Act 1982 (c. 23, SIF 86), s. 37, Sch. 3 para. 1
Modifications etc. (not altering text)
C1S. 1(2) saved by Territorial Sea Act 1987 (c. 49, SIF 29:1), s. 2( 3)
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