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Exploration, Mining and Processing of Mineral Oil (Amendment No. 2) Agreement (1986) (Ratification) Act, 1986

An Act ratifying a second amendment to a mineral-oil exploration, mining and processing agreement in Sierra Leone.

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Summary

This Act is a ratification statute. It approved and gave the force of law to a second amendment, concluded in 1986, to an agreement between the Government of Sierra Leone and a company concerning the exploration, mining and processing of mineral oil.

Ratification Acts of this kind give legal effect to the scheduled agreement (as amended), binding the parties to its terms and providing legal certainty for the venture. The substantive rights and obligations are those contained in the agreement and its amendments.

Main provisions

  • Ratifies and gives the force of law to the second amendment to the mineral-oil agreement.
  • Typically annexes the amended agreement as a schedule.
  • Binds the Government and the company to the agreed terms.
  • Provides legal certainty for the exploration, mining and processing venture.