1. (a) A qualified person that has elected a royalty inducement under AS 43.90.310 and 11 AAC 25.040 may request, on a request form provided by the commissioner, that the commissioner contractually amend an existing lease. The request form must be signed by a representative of the applicant that is authorized to enter into an agreement to amend the lease.
2. (b) A request to amend a lease must be submitted at the same time that the qualified person submits the election form for a resource inducement under 11 AAC 25.040. The commissioner will not approve a request to amend a lease until after the commissioner has approved the qualified person's election of resource inducement under 11 AAC 25.040.
3. (c) An amendment to a lease under AS 43.90.310(b) and this chapter affects only the provisions or parts of a provision of the lease that are amended and shall not be construed as an amendment to any other provision of the lease, unit agreement, or royalty settlement agreement.

(Eff. 5/29/2010, Register 194)

Authority: AS 38.05.020, AS 38.05.180, AS 43.90.310