OFFSHORE MINERALS ACT 1994 - SECT 227 Successful applicant must be notified

OFFSHORE MINERALS ACT 1994 - SECT 227

  (1)   If the Joint Authority provisionally grants a mining licence under section   225, 226 or 231, the Designated Authority must give the provisional holder:

  (a)   the licence; and

  (b)   written notice that the provisional grant will lapse unless the provisional holder, before the end of the primary payment period:

  (i)   gives the Designated Authority a written acceptance of the grant; and

  (ii)   lodges any security required by the Joint Authority under section   399; and

  (iii)   pays the fees that must be paid for the licence under the Mining Licence Fees Act; and

  (iv)   if the tender is determined on the basis of the amounts of money offered for the licence--pays the Commonwealth the amount that the provisional holder offered for the licence under subsection   221(3).

  (2)   The licence must specify:

  (a)   the blocks covered by the licence; and

  (b)   the term of the licence; and

  (c)   the licence conditions.

Note:   For the term of a licence see subsection   217(2).