Section 17(2) in The Offshore Areas Mineral (Development And Regulation) Act, 2002
(2)The Central Government may, by notification in the Official Gazette, amend the Second Schedule so as to enhance or reduce the rate at which fixed rent shall be payable in respect of any area covered under a production lease and such enhancement or reduction shall take effect from such date as may be specified in the notification:Provided that the Central Government shall not enhance the rate of the fixed rent more than once during any period of three years.
