This Act makes provision for the exploration and exploitation of the continental shelf of New Zealand and the Cook Islands.
The Act vests all rights of exploitation and exploration of the continental shelf in the Crown. As far as mining for petroleum is concerned, the Petroleum Act 1937 and its Regulations shall apply and be interpreted so as to include the continental shelf. Mineral exploitation is subject to licence from the Minister of Energy (sect. 5). Provisions in the Fisheries Act 1983, as amended by the Fisheries Act 1996 and any Regulations concerning oysters, other shellfish and sponges, shall be interpreted so as to include such resources present on the continental shelf. The Governor-General may declare the above-mentioned provisions to be applicable also to any other sedentary species of shellfish or to sedentary sponges (sect. 6). This Act, except sections 4 and 6, applies to the Cook Islands (sect. 9).