Section 356JNA | Licensed sub-areas

Where any person is entitled to a share of equity in a licensed area which relates to part only of that area—

(a)that part is referred to in this Chapter as a “licensed sub-area”, and

(b)the share of equity is referred to in this Chapter as a share of equity in the licensed sub-area,

and references to a licensee in a licensed sub-area are to be interpreted accordingly.