Western Australian Current Acts Western Australian Current Acts (1) A farm-in
agreement is an agreement, whether conditional or not, that is made between
the following persons and contains 1 or more farm-in transactions —
(a) a
person (the farmor ) who is either or both of the following —
(i)
a primary farmor for 1 or more mining tenements;
(ii)
the holder, or 1 of the holders, of 1 or more derivative
mining rights;
(b)
another person (the farmee ).
(2) In addition to the
1 or more farm-in transactions, a farm-in agreement may contain other types of
transactions.
(3) A farm-in
transaction contained in a farm-in agreement is a concessional farm-in
transaction .
(4) Despite subsection
(3), a farm-in transaction contained in a farm-in agreement is not a
concessional farm-in transaction if, when the farm-in agreement is made
—
(a) the
farmee —
(i)
is a primary farmor for a relevant mining tenement; or
(ii)
is the holder, or 1 of the holders, of a derivative
mining right that authorises exploitation of land the subject of a relevant
mining tenement; or
(iii)
otherwise has any interest in a relevant mining tenement
or in a derivative mining right of the type referred to in subparagraph (ii);
or
(b) the
farmee —
(i)
is 1 of the holders of a relevant derivative mining
right; or
(ii)
is a primary farmor for a mining tenement to which a
relevant derivative mining right relates; or
(iii)
is the holder, or 1 of the holders, of a derivative
mining right (other than a relevant derivative mining right) that authorises
exploitation of land the subject of a mining tenement of the type referred to
in subparagraph (ii); or
(iv)
otherwise has any interest in a relevant derivative
mining right, in a mining tenement of the type referred to in subparagraph
(ii) or in a derivative mining right of the type referred to in subparagraph
(iii).
[Section 91L inserted: No. 37 of 2022 s. 8.]