§3452.3. Termination.
43 C.F.R. § 3452.3
Any lease issued or readjusted after August 4, 1976, shall be terminated if the lessee does not meet the diligent development requirements.
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.
Notes, amendments, and revision history
Amendments
[44 FR 42635, July 19, 1979, as amended at 47 FR 33147, July 30, 1982]
Authority
Authority: 30 U.S.C. 181 et seq.; 30 U.S.C. 351-359; 30 U.S.C. 521-531; 30 U.S.C. 1201 et seq.; and 43 U.S.C. 1701 et seq.
Source
Source: 44 FR 42635, July 19, 1979, unless otherwise noted.
Amendments
[44 FR 42635, July 19, 1979, as amended at 47 FR 33147, July 30, 1982]