Queensland Consolidated Acts

MINERAL RESOURCES ACT 1989 - SECT 314

314 Property remaining on former mining lease may be sold

(1) This section applies if the Minister has not received an application, or has received an application that has not been granted, for approval to remove property from the site of a terminated mining lease within 3 months after the lease’s termination.

(2) The Minister may—

(a) sell the property by public auction or in another stated way; or

(b) if the property has no commercial value—dispose of or destroy it.

(3) Proceeds of a sale are to be applied in the following order towards—

(a) the reasonable expenses incurred in the sale;

(b) the cost of rectifying actual damage for which an amount of security deposited for the terminated mining lease could have been used, but was not used, or was inadequate;

(c) costs and expenses mentioned in the Environmental Protection Act , section 316C ;

(d) amounts owing to the State under this Act by the former holder;

(e) any other amounts owing to the State under the Environmental Protection Act for a relevant environmental authority;

(f) rates and charges (including interest on unpaid rates and charges) owing to a local government by the former holder for the lease;

(g) amounts owing to a mortgagee under a mortgage registered under the Common Provisions Act over the lease.

(4) Any balance must be paid to the former holder.

(5) If the Minister can not decide the identity of, or locate, a person entitled to the proceeds or part of the proceeds, the Minister may pay the amount to the public trustee as unclaimed moneys.

(5A) A secured party can not enforce any security interest in the proceeds of sale against an entity to whom an amount is payable under subsection (3) (a) to (e) .

(6) Compensation is not payable for a sale, disposal or destruction under this section.

(7) In this section—

"PPS Act" means the Personal Property Securities Act 2009 (Cwlth) .

"secured party" has the meaning given by the PPS Act , section 10 .

"security interest" has the meaning given by the PPS Act , section 12 .