§556.704. When may BOEM disapprove an assignment or sublease of an interest in my lease?
30 C.F.R. § 556.704
BOEM may disapprove an assignment or sublease of all or part of your lease interest(s):
When the transferor, transferee, or sublessee is not in compliance with all applicable regulations and orders, including financial assurance requirements;
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 by a person authorized to bind the corporation, transferee does not meet the requirements of § 556.401); or
When the transfer does not conform to these regulations, or any other applicable laws or regulations (e.g., departmental debarment rules).
A transfer will be void if it is made pursuant to any prelease agreement that would cause a bid to be disqualified, such as those described in § 556.511(c), (d), or (e).
Notes, amendments, and revision history
Amendments
[81 FR 18152, Mar. 30, 2016, as amended at 89 FR 31593, Apr. 24, 2024]
Authority
Authority: 31 U.S.C. 9701; 42 U.S.C. 6213; 43 U.S.C. 1334.
Source
Source: 81 FR 18152, Mar. 30, 2016, unless otherwise noted.
Amendments
[81 FR 18152, Mar. 30, 2016, as amended at 89 FR 31593, Apr. 24, 2024]