§ 192a. — Cancellation or modification of contracts.
[Laws in effect as of January 7, 2003]
[Document not affected by Public Laws enacted between
January 7, 2003 and December 19, 2003]
[CITE: 30USC192a]
TITLE 30--MINERAL LANDS AND MINING
CHAPTER 3A--LEASES AND PROSPECTING PERMITS
SUBCHAPTER I--GENERAL PROVISIONS
Sec. 192a. Cancellation or modification of contracts
Where, under any existing contract entered into pursuant to the
first proviso in the second paragraph of section 192 of this title, any
refinery is required to pay a premium price for the purchase of
Government royalty oil, such refinery may, at its option, by written
notice to the Secretary of the Interior, elect either--
(1) to terminate such contract, the termination to take place at
the end of the calendar month following the month in which such
notice is given; or
(2) to retain such contract with the modifications, that (a) the
price, on and after March 1, 1949, shall be as defined in the
contract, without premium payments, (b) any credit thereby resulting
from past premium payments shall be added to the refinery's account,
and (c) the Secretary may, at his option, elect to terminate the
contract as so modified, such termination to take place at the end
of the third calendar month following the month in which written
notice thereof is given by the Secretary.
(Sept. 1, 1949, ch. 529, Sec. 1, 63 Stat. 682.)
Codification
Section was not enacted as part of act Feb. 25, 1920, ch. 85, 41
Stat. 437, known as the Mineral Leasing Act, which comprises this
chapter.
Section Referred to in Other Sections
This section is referred to in sections 192b, 192c of this title;
title 10 sections 7421, 7435.
