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DUTIES ACT 2008 - SECT 91K

91K .         Terms used

        (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.]



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