§ 556.400 When must I demonstrate that I am qualified to hold a lease on the OCS?
§ 556.401 What do I need to show to become qualified to hold a lease on the OCS and obtain a qualification number?
§ 556.402 How do I make the necessary showing to qualify and obtain a qualification number?
§ 556.403 Under what circumstances may I be disqualified from acquiring a lease or an interest in a lease on the OCS?
§ 556.404 What do the non-procurement debarment rules require that I do?
§ 556.405 When must I notify BOEM of mergers, name changes, or changes of business form?

Terms Used In CFR > Title 30 > Chapter V > Subchapter B > Part 556 > Subpart D - Qualifications

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dependent: A person dependent for support upon another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fraud: Intentional deception resulting in injury to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.