(1) The area of the
land in respect of which an exploration licence is granted must not exceed 1
000 square kilometres unless, in the opinion of the Minister, circumstances
exist that justify the grant of a licence in respect of a greater area.
(2) However, if the
exploration licence allows for exploratory operations for precious stones in
an opal development area, the area of land in respect of which a licence is
granted cannot exceed 20 square kilometres unless, in the opinion of the
Minister, circumstances exist that justify the grant of a licence in respect
of a greater area.
(3) The holder of an
exploration licence may apply to the Minister for approval to surrender a part
of the area of the licence under an agreement that is intended to enable
another party to the agreement (a "designated party") to obtain a new
exploration licence in relation to the land to be surrendered.
(4) An application
under subsection (3)—
(a) must
be made in a manner and form determined by the Minister; and
(b) must
be accompanied by such information as may be prescribed by the regulations;
and
(c) must
be accompanied by the prescribed fee.
(5) An application may
not be made under subsection (3)—
(a) if
the exploration licence is due to expire within 2 years of the making of
the application; or
(b) if
the other party to the agreement is, in relation to the tenement holder, a
related body corporate.
(6) If the Minister
decides to consider an application under subsection (3) (and notifies the
parties accordingly)—
(a) the
designated party has a period of 6 months to obtain an exploration
licence over the land to which the application relates, or such longer period
as may be allowed by the Minister; but
(b) if
an exploration licence is not granted to the designated party within the
period that applies under paragraph (a), the proposed surrender will be
taken to be rejected.
(7) The
tenement holder (and the exploration licence) will continue to be subject to
all the requirements of this Act in relation to the land to which an
application under subsection (3) relates while the designated party seeks
to obtain an exploration licence over the land.
(8) The
tenement holder may at any time withdraw an application under
subsection (3) by notice given to the Minister in accordance with the
regulations.
(9) If an application
is withdrawn, an exploration licence will not be granted to the
designated party under this section.
(10) If an exploration
licence is granted to the designated party on application under
subsection (3), the land to which the application relates will be taken
to have been surrendered by the tenement holder on the date on which the new
exploration licence is granted (but will not be considered to be open ground
for the purposes of this Part).
(11) In addition and
without limiting any other provision of this Act, the Minister may at any
time, on application by the tenement holder or with the consent of the
tenement holder, reduce the area of the licence.