A retention licence is
liable to forfeiture if —
(a) the
prescribed rent or royalty in respect of the licence is not paid in accordance
with this Act; or
(b) the
terms and conditions of the licence, including —
(i)
any conditions to which the licence is deemed to be
subject under section 70H; and
(ii)
any conditions imposed under section 70I or 70IA,
are not complied with;
or
(ba) a
report required under section 70H(1)(f) or 115A in relation to the land the
subject of the retention licence is not filed in accordance with this Act; or
(bb) the
holder of the licence fails to comply with a requirement under section 70F(2)
to lodge a security; or
(c) the
holder of the licence is convicted of an offence against this Act; or
(d) the
holder of the licence fails to comply with a notice under section 70M(2)
requiring that person to apply for a mining lease in respect of the whole or
any part of the land the subject of the licence; or
(e) the
holder of the licence fails to comply with a notice under section 115B(2)
requiring that person to file an audit statement or cause an audit statement
to be filed.
[Section 70K inserted: No. 37 of 1993 s. 10(1);
amended: No. 58 of 1994 s. 26; No. 17 of 1999 s. 12(4); No. 39 of 2004 s. 37
and 97(2).]