OFFSHORE MINERALS ACT 1994 - SECT 232 Initial term of mining licence

OFFSHORE MINERALS ACT 1994 - SECT 232

  (1)   A mining licence comes into force on:

  (a)   the day on which the grant of the licence is registered; or

  (b)   if a day later than the day on which the grant of the licence is registered is specified in the licence as its commencement day--that specified day.

  (2)   The initial term of a mining licence ends:

  (a)   if the licence is granted under Division   2--at the end of the period specified in the licence under subsection   209(1); or

  (b)   if the licence is granted under Division   3--at the end of the period specified under subsection   227(2).

Note 1:   For the maximum initial term of renewal see subsections   209(2) and 217(2).

Note 2:   The licence may be surrendered at any time (see section   264).

  (3)   The period runs from:

  (a)   the day on which the licence is provisionally granted; or

  (b)   if a day later than the day on which the licence is provisionally granted is specified in the licence as its commencement day--that specified day.