(1) The sources of
obligations associated with an exploration licence are —
(a) the
licence conditions; and
(b)
obligations arising from directions under section 387 or 392 given by the
Minister; and
(c)
obligations imposed by this Act and the regulations.
Note:
For paragraph (a) see
sections 118 to 120. For paragraph (c) see sections 44, 123 to 125, 372 and
391(1).
(2) If an exploration
licence has 2 or more holders, all the holders are jointly and severally bound
by the obligations that attach to the licence.