The Secretary, on terms prescribed by him, may re-lease lands in the naval petroleum reserves that were covered by leases made before July 1, 1936, and terminated by law at the expiration of their initial twenty-year periods. If any such land is to be re-leased, the Secretary shall give to the former lessee preferential rights to the new lease.
(Aug. 10, 1956, ch. 1041, 70A Stat. 460, § 7429; Pub. L. 94–258, title II, § 201(10), Apr. 5, 1976, 90 Stat. 309; renumbered § 8729, Pub. L. 115–232, div. A, title VIII, § 807(d)(5), Aug. 13, 2018, 132 Stat. 1836.)
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