(1) Subject to this
Act, the Minister may grant a retention lease to the holder, or to a
related body corporate of the holder, of—
(a) a
registered mineral claim, in respect of the whole or part of land comprised in
the claim; or
(b) an
exploration licence, in respect of the whole or part of land comprised in the
licence; or
(c) a
mining lease, in respect of the whole or part of land comprised in the lease.
(2) If a registered
mineral claim or exploration licence relates to a particular stratum, the
retention lease must, if granted, relate to the same stratum.
(3) A retention lease
is not required to be registered under the Real Property Act 1886 .