Queensland Consolidated Acts

MINERAL RESOURCES ACT 1989 - SECT 317ZF

317ZF Withdrawal of tender

(1) A person who has lodged a tender in response to a call for mining lease tenders may lodge a notice withdrawing the tender at any time before an application for the mining lease is granted.

(2) The withdrawal takes effect when the notice is lodged.

(3) The withdrawal of the preferred tenderer’s tender under this section does not affect the Minister’s power to appoint another tenderer, from the tenders made in response to the call, to be the preferred tenderer.

(4) If a tender is withdrawn under this section, the Minister may, if the Minister considers it reasonable in the circumstances, retain the whole or part of any tender security given by the tenderer.