§3509.40. What are fractional interest prospecting permits and leases?
43 C.F.R. § 3509.40
They are prospecting permits and leases for parcels where the United States holds less than 100 per cent of the mineral interest of the parcel. Fractional interest leases allow development of the shared mineral interests.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 552; 30 U.S.C. 189, 192c, and 209; 43 U.S.C. 1701 et seq.; and sec. 402, Reorganization Plan No. 3 of 1946 (5 U.S.C. appendix).
Source
Source: 64 FR 53536, Oct. 1, 1999, unless otherwise noted.