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in any year in excess of the required minimum may be 
-eredited to later years by the licensee. 
RELINQUISHMENT; TRANSFER OR LOSS OF LICENSE 
Sec. 8. (a) Within ten years of the date any block is 
licensed under this Act and not later than the start of com- 
mercial recovery from such block, the licensee shail by 
written notice to the Secretary relinquish 75 per centum 
-of such block measured laterally. The relinquishinent shall 
be such that the unrelinquished area conforms to the shape 
of a block as defined under section 2(c). The licensee shall 
select the area of the block to be relinquished and as many 
as four contiguous blocks of the same type held by the 
licensee may be treated as a single unit for purposes of 
selecting the 75 per centum to be relinquished. 
(b) Any license issued under this Act may be sur- 
rendered at: will and, on written consent of the Secretary, 
transferred to any person whe qualifies under section 5 (a) 
and is not precluded from holding such license by section 
6(b). Such license may be revoked for willful, substantial 
failure to comply with this Act, any regulation prescribed 
thereunder, or any license condition, in a proceeding in an 
appropriate United States district court: Provided, That 
the Secretary has first given the licensee written notice of 
such violation and the licensee has failed to remedy the vio- 
lation within a reasonable period of time. 
