43 CFR 3452.3 - Termination.

Regulations last checked for updates: Oct 19, 2024

Title 43 - Public Lands: Interior last revised: Sep 06, 2024

View all text of Subpart 3452 [§ 3452.1 - § 3452.3]

§ 3452.3 - Termination.

(a) Any lease issued or readjusted after August 4, 1976, shall be terminated if the lessee does not meet the diligent development requirements.

(b) Should a lease be relinquished, cancelled or terminated for any reason, all deferred bonus payments shall be immediately payable and all rentals and royalties, including advance royalties, already paid or due, shall be forfeited to the United States.

[44 FR 42635, July 19, 1979, as amended at 47 FR 33147, July 30, 1982]

authority: 30 U.S.C. 181

source: 44 FR 42635, July 19, 1979, unless otherwise noted.

cite as: 43 CFR 3452.3