OFFSHORE MINERALS ACT 1994 - SECT 84 Acceptance of grant of exploration licence over tender blocks

OFFSHORE MINERALS ACT 1994 - SECT 84

    The provisional grant of an exploration licence is properly accepted by the provisional holder if, within 30 days after the day on which the provisional holder is given notice under section   83, the provisional holder:

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

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

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

  (d)   if the tender is determined on the basis of the amount of money offered for the licence--pays the Commonwealth the amount that the provisional holder offered for the licence under subsection   77(3).

Note:   Under section   88, the grant of the licence cannot be effective before it is registered (see section   333 for registration).