Editorial Notes

1987—Pub. L. 100–203 substituted third to fifth sentences for former third sentence which read as follows: “The Secretary shall disapprove the assignment or sublease only for lack of qualification of the assignee or sublessee or for lack of sufficient bond: Provided, however, That the Secretary may, in his discretion, disapprove an assignment of a separate zone or deposit under any lease, or of a part of a legal subdivision.”

1960—Pub. L. 86–705 amended last sentence to restrict automatic extensions after Sept. 2, 1960.

1954—Act July 29, 1954, authorized partial assignment of a lease in its extended term regardless of reason for extension.

Statutory Notes and Related Subsidiaries
Savings Provision

See note set out under section 181 of this title.

Leases Issued Prior to September 2, 1960

Pub. L. 86–705, § 6, Sept. 2, 1960, 74 Stat. 790, provided in part that: “The provisions of this section 6 [amending this section] shall not be applicable to any lease issued prior to the effective date of this Act [Sept. 2, 1960].”