This workshop has been designed to give an introduction to the Master Deed for those involved in UKCS licence and asset transfers, both for operators and external legal firms.
With nearly 280 signed up to Master Deed, over 90% of all UKCS licensees, and with over 70 deeds executed every year, it is vital that all those involved properly understand and make effective use of this pan-industry process. After June 2014, there will be no further use of the old paper based system and all transactions will be on-line, with new mechanisms for authorising and paying, so this workshop will give delegates the means to get most value from this service.
Building on past Master Deed workshops, this course aims to provide practical, interactive insights on Deed processing and due diligence, an understanding of the underlying legal construct and insights into DECC licensing consent requirements and use of the PEARS portal.
This will be half day course mixing presentations and demonstrations, with discussions and group exercises to give practical usage tips. In outline, it will cover:
* Introduction and history of LOGIC, UKCSAL and Master Deed
* Key regulatory requirements for licence transfers
* Master Deed Legal construct, roles and expectations of each party
* Process of submitting and executing deeds
* Introduction to the PEARS portal
This course is designed for legal and commercial personnel, regulatory advisors and management. Numbers will be limited to ensure effective interaction and learning. Delegates will be provided with presentations and relevant notes.