s 2 Licences to search for and get petroleum.
(1) The Secretary of State , on behalf of His Majesty, shall at any time have power to grant to such persons as he thinks fit licences to search and bore for and get petroleum to which subsection (2) of section 1 of this Act applies at that time . (2) Any such licence shall be granted for such consideration (whether by way of royalty or otherwise) as the Secretary of State with the consent of the Treasury may determine, and upon such other terms and conditions as the Secretary of State thinks fit. (3) The Secretary of State shall, as soon as may be after granting a licence under this section, publish notice of the fact in the London Gazette stating the name of the licensee and the situation of the area in respect of which the licence has been granted, and, if the said area or any part thereof is in Scotland, the Secretary of State shall also publish the said notice in the Edinburgh Gazette.