(1) In this Division
—
concessional farm-in transaction has the meaning
given in section 91L(3), subject to section 91L(4), Subdivision 4 and
section 91U;
exploration includes development that is carried
out solely —
(a) for
the purpose of facilitating exploration; or
(b)
otherwise incidentally to exploration;
exploration amount has the meaning given in
section 91N(5), subject to section 91N(6);
exploration licence means an exploration licence
granted under the Mining Act 1978 section 57;
exploration requirement has the meaning given in
section 91N(1) to (4), subject to section 91N(6);
farmee has the meaning given in section 91L(1)(b);
farm-in agreement has the meaning given in
section 91L(1) and (2);
farm-in transaction has the meaning given in
section 91M(1), subject to section 91M(2) to (5);
farmor has the meaning given in section 91L(1)(a);
minerals has the meaning given in the Mining Act
1978 section 8(1);
mining has the meaning given in the Mining Act
1978 section 8(1);
primary farmor —
(a)
means a person who is the holder, or 1 of the holders, of a mining tenement;
and
(b)
includes a person (the transferee ) who is not the holder, or 1 of the
holders, of a mining tenement in a case where —
(i)
there is a transfer of an interest in the mining tenement
to the transferee in order to make the transferee the holder, or 1 of the
holders, of the mining tenement; and
(ii)
the transfer is still to be registered under the Mining
Act 1978 section 103C; and
(iii)
but for the application of the Mining Act 1978 section
103C(8) to the transfer, the transferee would be the holder, or 1 of the
holders, of the mining tenement; and
(iv)
subsection (2) of this section applies to the transfer;
and
(c)
includes a person who is the applicant, or 1 of the applicants, under the
Mining Act 1978 for a mining tenement in a case where the application is still
to be determined;
prospecting licence means a prospecting licence
granted under the Mining Act 1978 section 40;
purchase agreement has the meaning given in
section 91M(9);
relevant derivative mining right , in relation to
a farm-in transaction, means a derivative mining right that is a relevant
derivative mining right for the farm-in transaction under
section 91M(1)(a)(ii), subject to subsection (3) of this section;
relevant mining tenement , in relation to a
farm-in transaction, means a mining tenement that is a relevant mining
tenement for the farm-in transaction under section 91M(1)(a)(i), subject to
subsection (3) of this section;
replacement derivative mining right has the
meaning given in section 91M(7) and (8);
replacement mining tenement has the meaning given
in section 91M(6);
vary , in relation to an agreement, includes to
modify the agreement’s effect.
(2) This subsection
applies to a transfer for the purposes of paragraph (b)(iv) of the definition
of primary farmor in subsection (1) if —
(a) the
transfer is made to the transferee —
(i)
under a farm-in transaction as contemplated in
section 91M(1)(c)(i); and
(ii)
without limiting subparagraph (i), after the transferee
has fulfilled the exploration requirement;
or
(b) the
transfer is made to the transferee as a purchaser of the interest in the
mining tenement.
(3) In
sections 91M(1)(c) and (d) and (3) to (5), 91N(2) and (4), 91Q(2), 91T(3) and
(4)(b) and 91V(1), references to a relevant mining tenement or relevant
derivative mining right include, respectively —
(a) a
replacement mining tenement for the relevant mining tenement; or
(b) a
replacement derivative mining right for the relevant derivative mining right.
(4) In this Division,
references to a mining tenement or derivative mining right being granted to
replace another mining tenement or derivative mining right include cases where
the mining tenement or derivative mining right is granted in substitution,
conversion or renewal of the other mining tenement or derivative mining right.
(5) In this Division,
references to exploration of a mining tenement or derivative mining right are
to exploration of land the subject of the mining tenement or derivative mining
right.
[Section 91K inserted: No. 37 of 2022 s. 8.]
[Heading inserted: No. 37 of 2022 s. 8.]