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Effect of revocation, expiration, termination and surrender
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47. On the revocation, expiration, termination or surrender of a prospecting licence or a retention licence—
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(a) all rights and powers exercisable by a licensee under the licence end,
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(b) the conditions specified in the licence for the purposes of this section continue to apply to the former licensees,
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(c) the former licensees continue to be liable for any act or omission done under the licence, and
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(d) the former licensee is not entitled—
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(i) to a refund of any fee that has been paid, or
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(ii) to compensation in respect of any expenditure that the former licensee may have incurred as part of the licensee’s exploration programme.
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