GroundRules
30 CFR 556.802: When may BOEM disapprove the transfer of all or part of my operating rights interest?
Where this section sits in the code
- Title 30—Mineral Resources
- CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR
- SUBCHAPTER B—OFFSHORE
- PART 556—LEASING OF SULFUR OR OIL AND GAS AND FINANCIAL ASSURANCE REQUIREMENTS IN THE OUTER CONTINENTAL SHELF
- Subpart H—Transferring All or Part of the Operating Rights in a Lease
BOEM may disapprove a transfer of all or part of your operating rights interest:
(a) When the transferor or transferee is not in compliance with all applicable regulations and orders, including financial assurance requirements;
(b) When a transferor attempts a transfer that is not acceptable as to form or content (e.g., not on standard form, containing incorrect legal description, not executed in accordance with corporate governance, transferee does not meet the requirements of § 556.401); or
§ 556.802 When may BOEM disapprove the transfer of all or part of my operating rights interest?
BOEM may disapprove a transfer of all or part of your operating rights interest:
(a) When the transferor or transferee is not in compliance with all applicable regulations and orders, including financial assurance requirements;
(b) When a transferor attempts a transfer that is not acceptable as to form or content (e.g., not on standard form, containing incorrect legal description, not executed in accordance with corporate governance, transferee does not meet the requirements of § 556.401); or
(c) When the transfer does not conform to these regulations, or any other applicable laws or regulations (e.g., departmental debarment rules).
Collected 2026-08-27T02:25:24Z. Source file · JSON