Section 11 in The Petroleum and Natural Gas Rules, 1959
11. Security deposit, annual license fee and shedding of areas. - (1) [[* * *][The applicant for a license shall,] [Substituted by G.S.R. 371, dated 9.3.1966. ] before the license is granted to him, deposit with [the Central Government or where the license is to be or has been granted by the State Government, the State Government] [ Substituted by G.S.R. 295(E), dated 1.4.2003.] as security for due observance of the terms, covenants and conditions of the license, a sum of [Rs. 1,00,000 (Rupees one lakh).] [ Substituted by G.S.R. 858, dated 1.4.2003.]
(2)[ ] [Substituted by G.S.R. 842, dated 30.5.1964. ][* * *] [ Substituted by G.S.R. 842, dated 30.5.1964.] [, the licensee shall pay yearly in advance by way of license fee in respect of his license a sum calculated for each square kilometre or part thereof covered by the license at the following rates:] [Substituted by G.S.R. 842, dated 30.5.1964. ](i)[ Rs. 50 (Rupees fifty) for the first year license. [ Substituted by G.S.R. 295(E), dated 1.4.2003.](ii)Rs. 100 (Rupees one hundred) for the second year license.(iii)Rs. 500 (Rupees five hundred) for the third year license.(iv)Rs. 700 (Rupees seven hundred) for the fourth year license.(v)Rs. 1000 (Rupees one thousand) for the each subsequent year of renewal.](3)The licensee shall be at liberty to determine the license or relinquish any part of the area covered by the license on giving not less than two months notice in writing to the [the Central Government or where the license is to be or has been granted by the State Government, the State Government] [ Inserted by G.S.R. 295(E), dated 1.4.2003.] and the Central Government.
