Western Australian Current Acts Western Australian Current Acts (1) During the
currency of a prospecting licence the holder thereof shall comply with the
prescribed expenditure conditions relating thereto unless in accordance with
this Act total or partial exemption therefrom is granted.
(2) In the case of a
prospecting licence that has retention status, expenditure conditions
prescribed for the purposes of subsection (1) —
(a)
shall provide for a reduction calculated in the prescribed manner of the
amount of expenditure required during the year of the term of the licence in
which retention status is approved; and
(b)
shall not require expenditure during any subsequent year of the term of the
licence.
[Section 50 amended: No. 39 of 2004 s. 21.]