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OFFSHORE MINERALS ACT 1994 - SECT 217 Matters to be determined before applications for mining licence over tender blocks invited

OFFSHORE MINERALS ACT 1994 - SECT 217

Matters to be determined before applications for mining licence over tender blocks invited

  (1)   If the Joint Authority proposes to invite applications for the grant of a mining licence over reserved blocks, the Joint Authority must, before inviting the applications, determine:

  (a)   the procedure and criteria that the Joint Authority will adopt to allocate the licence; and

  (b)   the amount of security that will be required for the licence under section   399; and

  (c)   the initial term of the licence; and

  (d)   the licence conditions.

  (2)   The term determined under paragraph   ( 1)(c) is not to exceed 21 years.