(1) If —
(a) an
exploration licence holder wants to surrender some of the blocks covered by
the licence; and
(b) the
blocks remaining in the licence area after the proposed surrender would form
not more than 3 discrete areas,
the holder may apply
to the Minister for approval of the proposed surrender.
(2) The application
—
(a) must
be in writing; and
(b) must
include a surrender proposal that identifies the blocks in the licence area
that the holder proposes to surrender; and
(c) may
include any other information that the holder thinks is relevant.
(3) If the Minister
agrees with the surrender proposal, the Minister may approve the surrender of
the blocks specified in the proposal by giving the holder written notice of
the approval.
Note:
The surrender takes
effect when it is registered under section 337 (see section 337(5)).
(4) If the Minister
does not agree with the surrender proposal, the Minister may ask the holder to
discuss the proposal.
(5) If the Minister
and the holder agree, after discussions, on the blocks to be surrendered the
Minister may approve the surrender of the blocks agreed on by giving the
holder written confirmation of the agreement.
Note:
The surrender takes
effect when it is registered under section 337 (see section 337(5)).
(6) If, after
discussions, the Minister and the holder do not agree on the surrender
proposal, no blocks are surrendered.