Examples of Oil Code in a sentence
However, the regulations and competencies expressed in the Oil Code and the Association Contract still apply to the activities of exploration, exploitation and production of natural gas and, therefore, those activities are outside the scope of the CREG.
The approval by the Minister of a pipeline project, as indicated in Article 39 of the Oil Code, may not be refused, if the project complies with the current regulations and makes it possible to ensure the transport of the products extracted under the best possible technical, economical and environmental conditions.
Starting from the approval date, the transferee or transferees shall be acting in the capacity of the Contractor and shall fulfil the obligations imposed on the Contractor by the Oil Code and by this Contract to which they shall have adhered prior to the transfer.
The above-mentioned goods shall be imported by the Contractor in accordance with the provisions of Article 49 of the Oil Code.
The Borrower may select any one of the Issuing Banks to be the Issuing Bank with respect to one or more Facility Letters of Credit.
Whilst most of the special circumstances mirror the Franchising Code, the Oil Code provides suppliers with the ability to terminate a fuel re-selling agreement on the basis that there has been a breach of a provision of the fuel re-selling agreement at least three times.
We are unable to provide meaningful comments on the effectiveness of the Oil Code dispute resolution process, as we are not familiar with the practical operation of that process.Importantly, in the case of the new motor vehicle distributors there is an established and regular pathway to discussion with dealers through the national dealer councils.
The net profits derived by the Contractor from all of its Oil Operations in the territory of the Republic of Senegal as defined in the General Tax Code, unless otherwise stated in the Oil Code, are subject to a tax on corporations of twenty-five percent (25 %) calculated on the said net profits.
The Oil Code specifies a form of disclosure document5 (refer clauses 21-23) that requires a vendor to give to a buyer of a fuel re-selling business information including Profit and Loss Statements and Balance Sheets of the retailer or the fuel reselling business for the last 2 years, asset schedule, staffing arrangements (including rate of pay and outstanding obligations) and a summary of the transfer process, key terms and obligations being taken over by the purchaser.
The termination provisions in the Franchising Code (and also Oil Code) follow the format of similar legislation around the world.