CHAPTER 219PETROLEUMARRANGEMENT OF SECTIONSPART IPRELIMINARYSECTIONShort title.Interpretation.Property in petroleum to continue vested in the Government.Minister subject to directions of the Governor-General.PART IIPERMITS, LICENCES AND LEASESPermits, licences and leases.Applications for licences and leases.Grants of licences and leases.Competitive bidding.Assignment of licences and leases.Applications for and grants of permits.Cancellation of licences and leases.Minister's right to appoint a director.Licensees and lessees to have resident managers.Permits, licences and leases only granted to companies incorporated in The Bahamas or to foreign companies registered in The Bahamas.Licensees and lessees to keep records, books and accounts at registered offices.Areas to be held under licences.Areas to be held under leases.Royalties.PART IIIANCILLARY RIGHTSAncillary rights.Limitation of power of granting rights.Applications for ancillary rights.Minister to consider applications.Parties ...